New-home sales post first annual gain in 7 years

2012 still third worst year on record

SALE! Save $150 off
Inman Connect San Francisco tickets

Use code 'MDsale150' at checkout

Sales of new single-family homes rose 19.9 percent from 2011 to 2012, with 367,000 newly-built homes sold last year, the U.S. Census Bureau reported today.

It’s been seven years since new-home sales posted an annual gain, but 2012 was still the third worst year in Census Bureau records dating to 1963, blogger Bill McBride noted on Calculated Risk. The two worst years for new-home sales were 2010 and 2011.