November new home sales up sharply in Midwest

The US Census Bureau reports that November new home sales (pdf) were at a seasonally adjusted annual rate of 315,000, a 1.6% increase from the October rate, and a 9.8% increase from the November of 2010 pace.

As is often the case, the national numbers mask sharp variations among regions. Sales actually declined sharply in the Northeast, and increased only modestly in the South and West, while Midwest sales rose by 62.9%.

The Calculated Risk blog, where I first noticed these numbers, is always a source of useful graphs and intelligent analysis of real estate market data.

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