New Home Sales at 6-1/2-Year High

Sales of new single-family houses were recorded at a seasonally adjusted annual rate of 481,000 in December, up 11.6 percent from a revised 431,000 in November. It is the highest figure since June of 2008 as sales in Northeast region surged 53.6 percent.

The median sales price of new houses sold in December 2014 was $298,100; the average sales price was $377,800. The seasonally adjusted estimate of new houses for sale at the end of December was 219,000. This represents a supply of 5.5 months at the current sales rate.

Sales in the Northeast jumped 53.6 percent and those in the South increased 17.7 percent. Sales in the West grew 3.1 percent while those in the Midwest shrank 11.5 percent. 

Year-on-year, new home sales rose 8.8 percent in December. 

An estimated 435,000 new homes were sold in 2014. This is 1.2 percent above the 2013 figure of 429,000. 

New Home Sales at 6-1/2-Year High

U.S. Census Bureau | Joana Taborda |
1/27/2015 3:28:25 PM