Those hoping for recovery in new home sales will have to wait a while longer…
From The U.S. Census Bureau NEW RESIDENTIAL SALES IN DECEMBER 2009
Sales of new one-family houses in December 2009 were at a seasonally adjusted annual rate of 342,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 7.6 percent (±14.6%)* below the revised November rate of 370,000 and is 8.6 percent (±15.2%)* below the December 2008 estimate of 374,000.
The median sales price of new houses sold in December 2009 was $221,300; the average sales price was $290,600.
The seasonally adjusted estimate of new houses for sale at the end of December was 231,000. This represents a supply of 8.1 months at the current sales rate.
An estimated 374,000 new homes were sold in 2009. This is 22.9 percent (±2.9%) below the 2008 figure of 485,000.
This chart from Calculated Risk clearly shows the “tax-credit bump” and the now-continuing decline.
