U.S. New Home Sales Dip 7% in December From Last Month's Pace

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According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in December 2012 were at a seasonally adjusted annual rate of 369,000.

This is 7.3 percent (±15.3%) below the revised November rate of 398,000, but is 8.8 percent (±24.8%) above the December 2011 estimate of 339,000.

The median sales price of new houses sold in December 2012 was $248,900; the average sales price was $304,000. The seasonally adjusted estimate of new houses for sale at the end of December was 151,000. This represents a supply of 4.9 months at the current sales rate.

An estimated 367,000 new homes were sold in 2012. This is 19.9 percent (±4.8%) above the 2011 figure of 306,000.