Posted March 6, 2019

New home sales climb 3.7 percent in December

Average sales price was $377,000.  

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for December 2018:

New Home Sales
Sales of new single‐family houses in December 2018 were at a seasonally adjusted annual rate of 621,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 3.7 percent (±16.4 percent)* above the revised November rate of 599,000, but is 2.4 percent (±21.3 percent)* below the December 2017 estimate of 636,000.

An estimated 622,000 new homes were sold in 2018.  This is 1.5 percent (±6.5 percent)* above the 2017 figure of 613,000.

Sales Price
The median sales price of new houses sold in December 2018 was $318,600.  The average sales price was $377,000.  

For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of December was 344,000.  This represents a supply of 6.6 months at the current sales rate.