Sales of newly built, single-family homes declined 2.1% to a seasonally adjusted annual rate of 464,000 units in November 2013 from an upwardly revised strong pace of 474,000 units in the previous month, according to data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Except for October 2013, this is the strongest sales pace since July of 2008.
"This figure is consistent with NAHB's member surveys, which show increasing confidence in the market," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. "Meanwhile, the very low supply of new homes on the market and tight credit conditions for home buyers show that builders are still cautious about getting ahead of themselves."