NEW YORK ( TheStreet ) -- Sales of new homes rose more than expected in November according to a Census Bureau report. Single-family home sales rose 1.6% to an adjusted annual rate of 315,000 from a revised 310,000 in October. Economists expected new-home sales to rise to 313,000 from an originally reported 307,000. The average sales price of new homes was $242,900, and there is a six month supply of new homes available at current sales rates. "Inventory has come down as a function of weakening prices so it does seem the housing story is flattening out even as prices continue to drop," said David Ader with CRT Capital. -- Written by Ross Tucker in New York. >To contact the writer of this article, click here: Ross Tucker. >To follow the writer on Twitter, go to http://twitter.com/rosstucker. >To submit a news tip, send an email to: firstname.lastname@example.org.