Sales of new single-family homes decreased 2.1% to a 464,000 seasonally adjusted annual rate in November, according to data released by the Commerce Department Tuesday.
The decline came after an upwardly revised 474,000 rate in October, originally reported as a 25.4% rise to 444,000. Thomson Reuters' poll of economists had predicted a 445,000 sales level for November.
Sales of new homes were 16.6% above the 398,000 rate in November 2012, Commerce said.
The supply of new homes at the current sales rate fell to 4.3 months from 4.5 months in October.
At the end of November, the number of new homes on the market decreased to 167,000 from 179,000.
The unadjusted average price of a new single-family home climbed to $340,300 from $326,800.
Meanwhile, the unadjusted median price rose to $270,900 from $259,200 in the previous month.
