【CNBC】Sales of newly built homes tank as affordability hits buyers

• November new home sales were down 14% from a year ago.
• The median price of a newly built home sold in November rose nearly 19% from November 2020, despite rising mortgage rates.
• “A hefty correction appears to be due,” wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics in a note to investors.
• Still, inventory of existing homes is at historic lows, keeping prices high for now.

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