New Home Sales Dip 2.2 Percent in December 2011

Rate lags December 2010 by 7.3 percent.

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Sales of new single-family houses in December 2011 were at a seasonally adjusted annual rate of 307,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.2 percent (±13.2%)* below the revised November rate of 314,000 and is 7.3 percent (±16.6%)* below the December 2010 estimate of 331,000.

The median sales price of new houses sold in December 2011 was $210,300; the average sales price was $266,000. The seasonally adjusted estimate of new houses for sale at the end of December was 157,000. This represents a supply of 6.1 months at the current sales rate.

An estimated 302,000 new homes were sold in 2011. This is 6.2 percent (±3.6%) below the 2010 figure of 323,000.

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