U.S. New Home Sales Spike 17% in December, Beats Wall Street's Expectations

Residential News » Residential Real Estate Edition | By Michael Gerrity | January 26, 2011 10:38 AM ET

According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in December 2010 were at a seasonally adjusted annual rate of 329,000.

This is 17.5 percent (±17.7%) above the revised November rate of 280,000, but is 7.6 percent (±17.0%) below the December 2009 estimate of 356,000.

The median sales price of new houses sold in December 2010 was $241,500; the average sales price was $291,400. The seasonally adjusted estimate of new houses for sale at the end of December was 190,000. This represents a supply of 6.9 months at the current sales rate.

An estimated 321,000 new homes were sold in 2010. This is 14.2 percent (±4.2%) below the 2009 figure of 375,000.

Real Estate Listings Showcase

This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More