HUD and Census Bureau Report New Residential Sales
20 Feb, 2017
Sales of new single-family houses in December 2016 were at a seasonally adjusted annual rate of 536,000, according to estimates released jointly by the Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.
This is 10.4 percent (±12.2%)* below the revised November rate of 598,000 and is 0.4 percent (±11.7%)* below the December 2015 estimate of 538,000.
The median sales price of new houses sold in December 2016 was $322,500; the average sales price was $384,000. The seasonally adjusted estimate of new houses for sale at the end of December was 259,000. This represents a supply of 5.8 months at the current sales rate. An estimated 563,000 new homes were sold in 2016. This is 12.2 percent (±3.5%) above the 2015 figure of 501,000.
New Residential Sales data for January 2017 will be released on Friday, February 24, 2017, at 10:00 A.M. EST.
* 90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.