WASHINGTON–Sales of newly built homes plunged more than 34 percent in November compared to the same month a year ago, and dropped 9 percent compared with October.
The U.S. Commerce Department reported this morning that sales reached 647,000 during the month, down from 711,000 in October and 987,000 a year ago.
The median sales price of new homes rose 4 percent on a monthly basis, reaching $239,000. Compared with November 2006, the median sales price was flat.
