With the increase in sales over the month, the months supply of inventory fell to 9.5 from 10.5. This was the lowest the ratio has been since June. Still, the ratio is quite high. Long term, the historical normal is around 5 months of inventory. Ratios above about 6 to 7 months are historically correlated with short term price declines. The median price in November, snapped a four month streak of price declines. The median price rose 0.1 percent to $170,6000/ From a year prior, prices were up 0.4%, the first positive year-over-year change since August.
|Sales (mil. annual.)||4.68||4.43||4.53||4.12||3.84||5.26|
|M/M % Change||5.6||-2.2||10.0||7.3||-27.0||-7.1|
|Med. Price (‘000s)||$170.6||$170.4||$171.5||$177.5||$182.1||$183.0|
|Y/Y % Change||0.4||-0.9||-2.5||0.2||0.4||0.7|