Posted January 25, 2018

New residential sales slide 9.3 percent in December

But new home sales grew 8.3 percent in 2017 over 2016. 

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for December 2017:

New Home Sales
Sales of new single-family houses in December 2017 were at a seasonally adjusted annual rate of 625,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.3 percent (±11.0 percent)* below the revised November rate of 689,000, but is 14.1 percent (±13.0 percent) above the December 2016 estimate of 548,000.

An estimated 608,000 new homes were sold in 2017. This is 8.3 percent (±4.1 percent) above the 2016 figure of 561,000.

Sales Price
The median sales price of new houses sold in December 2017 was $335,400. The average sales price was $398,900.

For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of December was 295,000. This represents a supply of 5.7 months at the current sales rate.