Dec. New Home Sales Fell from Nov.'s Rate, But Rose 14.1% YOY

Washington, DC, January 25, 2018-Sales of new single-family houses in December 2017 were at a seasonally adjusted annual rate of 625,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 9.3% below the revised November rate of 689,000, but is 14.1% above the December 2016 estimate of 548,000.

An estimated 608,000 new homes were sold in 2017. This is 8.3% above the 2016 figure of 561,000.

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

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.