Industry News

New-home sales edge down in December

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Sales of new one-family houses in December 2004 were at a seasonally adjusted annual rate of 1,098,000, approximately 2 percent below the estimate for December 2003, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development announced today. The seasonally adjusted annual rate projects a monthly total over a 12-month period. The December rate is approximately 0.1 percent above the revised November rate of 1,097,000. The median sales price of new houses sold in December 2004 was $222,000; the average sales price was $276,600. The seasonally adjusted estimate of new houses for sale at the end of December was 432,000. This represents a supply of 4.8 months at the current sales rate. In 2004, there were 1,183,000 houses sold compared with 1,086,000 houses sold during 2003, establishing a new record. This is an increase of approximately 8.9 percent. The number of homes sold and for sale dropped approximately 23.9 percent in the Northeast from December 2003 to December...