New home sales dipped in November, but remained at a solid level as builders struggled to meet demand and gain access to building materials.
Sales of newly built, single-family homes in November fell 11 percent to an 841,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly decline, the November rate is 20.8 percent higher than a year ago.