New Home Sales Down but Trend Is Higher

Washington, DC, Jan. 25, 2013 -- Sales of new single-family homes declined in December, although the long-term trend remains positive, according to the Commerce Department.

Sales of new single-family homes fell 7.3% to a seasonally adjusted annual rate of 369,000 in December. Economists had forecast sales at 385,000 in December.

However, sales rose 8.8% from December 2011.

November sales were revised up to 398,000 from a prior estimate of 377,000.

The median price of new homes rose 1.3% to $248,900 in December.

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