New Home Sales in 2013 Highest in Five Years

Washington, DC, Jan. 27, 2014 -- Sales of new single-family homes declined in December, but final sales in 2013 were at the highest level in five years, according to the Commerce Department.

Sales fell 7% in December to a seasonally adjusted annual rate of 414,000, but overall sales were up 4.5% from a year ago.

New-home sales hit 428,000 for the year, the most since 2008.

Sales peaked in 2005 at nearly 1.4 million.

The initial estimate for November of 464,000 was revised down to 445,000.

The median price of new homes rose 0.6% in December to $270,200.

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