New Home Sales Fell in December, but Up Sharply in 2012

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Posted To: MND NewsWire

Sales of new homes fell in December, down 7.3 percent from November to a seasonally adjusted annual rate of 369,000. This is 8.8 percent higher than the December 2011 estimate of 339,000 new units. The bad December number is tempered somewhat by a revision of the November estimate of new home sales from the 377,000 originally reported to 398,000. The new home sales figures were released this morning by the Census Bureau and the Department of Housing and Urban Development which also noted that an estimated 367,000 new homes were sold in 2012 compared to 306,000 in all of 2011. This is an increase of 19.9 percent. The median price of new houses sold in November was $248,900 compared to $245,600 a month earlier and $218,600 in December 2011. The average price in December was $304,000 compared...(read more)

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Source: http://www.mortgagenewsdaily.com/01252013_new_home_sales.asp

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