Industry News

New-home sales up in December

Prices drop from year-ago level

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Sales of new single-family houses in December were up about 1.8 percent from the December 2004 rate, and up 2.9 percent from the revised November rate, the U.S. Census Bureau and the Department of Housing and Urban Development reported today. Sales in December 2005 were at a seasonally adjusted annual rate of about 1.27 million. This rate is used to project a monthly sales total over a 12-month period, adjusted for seasonally fluctuations in sales activity. The median sales price of new houses sold in December 2005 was $221,800, down 3.5 percent from December 2004; and the average sales price was $272,900, down 4.2 percent from December 2004, the agencies reported. The seasonally adjusted estimate of new houses for sale at the end of December was 516,00 – this represents a supply of 4.9 months at the current sales rate. An estimated 1.28 million new homes were sold in 2005. This is 6.6 percent above the 2004 figure. Regionally, the seasonally adjusted annual rate of homes sold...