New home sales drop 10.4 percent in December
Overall 2016 new home sales increased 12.2 percent YOY.
Sales of new single-family houses in December 2016 were at a seasonally adjusted annual rate of 536,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 10.4 percent (±12.2%)* below the revised November rate of 598,000 and is 0.4 percent (±11.7%)* below the December 2015 estimate of 538,000.
The median sales price of new houses sold in December 2016 was $322,500; the average sales price was $384,000. The seasonally adjusted estimate of new houses for sale at the end of December was 259,000. This represents a supply of 5.8 months at the current sales rate.
An estimated 563,000 new homes were sold in 2016. This is 12.2 percent (±3.5%) above the 2015 figure of 501,000.