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Single-Family Home Sales Drop in November, Housing Starts in Pipeline

Sales of new single‐family houses in November 2023 were 590,000.

Posted December 27, 2023

New single-family home sales experienced a decline for the month of November but are up compared to this time last year.

The seasonally adjusted annual rate for new single-family home sales nationwide was 590,000 in November, according to the U.S. Census Bureau—a 12.2 percent decline when looking at the revised October rate of 672,000.

This is the first decline in new home sales following the strong streak beginning in September. While these home sales have now started to cool off, sales are doing better year over year with the recent estimates tracking 1.4 percent above the November 2022 estimate of 582,000.

The median sales price of new houses sold for the month was $434,700, and the average sales price was $488,900.

Looking at the region more closely shows Kansas homebuyers have been on a decline year-over-year. The Kansas City Regional Association of Realtors released its November local market update early this month showing year-to-date closed sales through November 2023, a 15.6 percent decrease compared to a year ago.