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New-Home Sales Slip 7% in December; Up 16.4% Over 2012
December new home sales slipped 7.0 percent from revisedrnNovember figures the Census Bureau and the Department of Housing and UrbanrnDevelopment said this morning. Sales inrnDecember were at a seasonally adjusted annual rate of 414,000 compared torn445,000 in November and was the second consecutive month the number fell. The month’s sales were a 4.5 percentrnimprovement over the December 2012 rate of 396,000. Novemberrnsales were originally reported at a rate of 464,000.</p
The median price of homes sold in December was $270,200 andrnthe average price was $311,400. InrnDecember 2012 the median price was $258,200 and the average was $299,200.</p
For the entirety of 2013 there were 428,000 new homesrnsold. This is a 16.4 percent increase</bfrom 2012 when sales totaled 368,000. Onrna non-seasonally adjusted basis approximately 28,000 homes sold in December.</p
At the end of December there were an estimated 171,000 newlyrnconstructed homes for sale, an estimated 5.0 month’s supply. In November there were 176,000 homesrnavailable for sale, a 4.7 month supply.</p
Sales in the Northeast region were down 36.4 percent fromrnNovember and 27.6 percent below sales in December 2012. The Midwest had an increase in sales of 17.6rnpercent on a monthly basis and 25.0 percent annually. Sales in the South slipped 7.3 percent fromrnNovember but were 4.1 percent higher than a year earlier and sales in the Westrnwere off 8.8 percent month-over-month but up 14.0 percent on an annual basis. </p
A home sold in December was on the market for a median ofrn3.2 months. This is identical to thernmarketing period one year earlier.</p
New Home Sales</b</p
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Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.
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