December new home sales slipped 7.0 percent from revised
November figures the Census Bureau and the Department of Housing and Urban
Development said this morning. Sales in
December were at a seasonally adjusted annual rate of 414,000 compared to
445,000 in November and was the second consecutive month the number fell. The month's sales were a 4.5 percent
improvement over the December 2012 rate of 396,000. November
sales were originally reported at a rate of 464,000.
The median price of homes sold in December was $270,200 and
the average price was $311,400. In
December 2012 the median price was $258,200 and the average was $299,200.
For the entirety of 2013 there were 428,000 new homes
sold. This is a 16.4 percent increase
from 2012 when sales totaled 368,000. On
a non-seasonally adjusted basis approximately 28,000 homes sold in December.
At the end of December there were an estimated 171,000 newly
constructed homes for sale, an estimated 5.0 month's supply. In November there were 176,000 homes
available for sale, a 4.7 month supply.
Sales in the Northeast region were down 36.4 percent from
November and 27.6 percent below sales in December 2012. The Midwest had an increase in sales of 17.6
percent on a monthly basis and 25.0 percent annually. Sales in the South slipped 7.3 percent from
November but were 4.1 percent higher than a year earlier and sales in the West
were off 8.8 percent month-over-month but up 14.0 percent on an annual basis.
A home sold in December was on the market for a median of
3.2 months. This is identical to the
marketing period one year earlier.
New Home Sales