U.S New Home Sales Decline 8.5 Percent In March
Sales of new one-family houses in March 2008 were at a seasonally adjusted annual rate of 526,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.5 percent (±16.1%)* below the revised February rate of 575,000 and is 36.6 percent (±11.1%) below the March 2007 estimate of 830,000.
The median sales price of new houses sold in March 2008 was $227,600; the average sales price was $292,200. The seasonally adjusted estimate of new houses for sale at the end of March was 468,000. This represents a supply of 11.0 months at the current sales rate.
26 Percent Drop in U.S. New-Home Sales for 2007
NEW RESIDENTIAL SALES IN DECEMBER 2007
Sales of new one-family houses in December 2007 were at a seasonally adjusted annual rate of 604,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.7 percent (±12.1%)* below the revised November rate of 634,000 and is 40.7 percent (±7.8%) below the December 2006 estimate of 1,019,000.
The median sales price of new houses sold in December 2007 was $219,200; the average sales price was $267,300. The seasonally adjusted estimate of new houses for sale at the end of December was 495,000. This represents a supply of 9.6 months at the current sales rate.