New-home sales roar to a fresh high as builders feed a market starved for supply

Sales are up 9.1% for the year to date. The numbers: New-home sales were at a seasonally adjusted annual rate of 733,000 in November, the Commerce Department said Friday. What happened: Sales of newly constructed homes throttled past expectations as the housing recovery picked up steam. November’s number was 17.5% above a downwardly revised October and 16% higher than a year ago.

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Source: Morningstar

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