Tuesday, January 27, 2015

New Home Sales Rebound in December

Sales of new single-family houses in December rose to a seasonally adjusted annual rate of 481,000 according to the U.S. Census Bureau and Department of Housing and Urban Development. The December rate is 11.6% above the revised November rate of 431,000 and 8.8% above the year-ago rate of 442,000.

New home sales in three of the four regions increased this month. The Northeast increased 53.6%, the South rose 17.7% and the West rose 3.1%. However, sales in the Midwest declined 11.5%.

The median sales price of new homes sold in December was $295,500, down 0.3% from November. The average price was $377,800, up 9.6% from November.

At the end of December, there were an estimated supply of 5.5 months at the current sales rate.

Read the Census report.

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