Sales of new single-family houses fell during December to a seasonally adjusted annual rate of 307,000, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development.
The total was 2.2 percent below the revised November rate of 314,000 and 7.3 percent lower than the December 2010 estimate of 331,000. The median sales price of new houses sold last month was $210,300 and 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 during 2011. This is 6.2 percent below the 2010 figure of 323,000.