New Home Sales Puke In November

New home sales collapsed in November, plunging by 11% MoM, its second biggest monthly drop since 2015 (..

Source: Bloomberg

Sending the new home sales SAAR reeling back to 841k (drastically below the 995k expected)…

The median selling price rose 2.2% from a year earlier to $335,300, with 17% of new homes sold in Nov. cost more than $500,000, up from 14% prior month.

All of which helps explain the plunge in homebuilder sentiment.