Sales of newly constructed homes rose 4.4 percent in November from the month before.
Newly built single-family homes sold at a seasonally adjusted annual rate of 377,000 units in November, the Commerce Department reported Thursday. That was a 15.3 percent increase from November 2011.
Low inventory has helped make housing competitive this year, and record-low mortgage rates have helped lure buyers.
At the same time, the number of foreclosures has declined, tightening the supply of cheap homes. And move-up buyers, those with equity in their homes looking to buy bigger abodes, have returned in some markets.