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New Home Sales in December at annual rate of 331,000
Sales of new one-family houses in December 2008 were at a seasonally adjusted annual rate of 331,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 14.7 percent (±13.9%)* below the revised November of 388,000 and is 44.8 percent (±10.8%) below the December 2007 estimate of 600,000.
The median sales price of new houses sold in December 2008 was $206,500; the average sales price was $246,900. The seasonally adjusted estimate of new houses for sale at the end of December was 357,000. This represents a supply of 12.9 months at the current sales rate.
Posted: January 29, 2009 Thursday 10:00 AM