New Home Sales Fall for November

New home sales declined 11% in November, the Commerce Department said Wednesday.

Sales dropped to an annual rate of 355,000 units, Commerce said. The median selling price decreased 1.9% from November 2008.

Economists had forecast the November rate to rise to 438,000 units from an initially reported 430,000 in October, Bloomberg reported.

Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.

New home sales account for about 15% of residential real estate sales.