The U.S. Commerce Department and Department of Housing and Urban Development announced
today that new single-family home sales declined by 7.3 percent in December. The decline represents a downturn from the prior month. Year-over-year data reflect an 8.8 percent increase. The government reported 369,000 new single-family home sales in December 2012.
December’s median new single-family home sale price was $248,900. The median existing home price was $180,800 in December. The average new single-family home price was $304,000. Existing home single-family sales also slipped (by 1.4 percent) in December.
The government estimated 151,000 new single-family homes were for sale at the end of December, about 4.9 months of inventory, similar to existing homes.
Sales of new single-family homes in 2012 exceeded the prior year by 19.9 percent.