Industry News

New-home sales fall 17.3% in 2006

Prices rise about 2% from previous year

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An estimated 1.06 million new single-family homes were sold in 2006, down about 17.3 percent compared to 2005, the U.S. Census Bureau and the Department of Housing and Urban Development reported today. In December, the seasonally adjusted annual rate of new single-family home sales was about 1.12 million, which is 11 percent below the December 2005 estimate and 4.8 percent above the November rate. This rate is a projection of a monthly sales total over a 12-month period, adjusted for seasonal fluctuations in sales activity. The median sales price of new houses sold in December 2006 was $235,000, down 1.5 percent compared to December 2005. The average sales price was $290,100, which is comparable to the $290,200 average sales price in December 2005. According to preliminary data, the median price of new homes for the full year in 2006 was $245,300, up 1.8 percent compared to the 2005 median price, and the average price was $304,700, also up 1.8 percent compared to 2005. The season...