New U.S. home sales dip

New York /
Jan.January 26, 2012 01:30 PM

The number of single-family homes in contract nationwide in December 2011 was down month-over-month and year-over-year. Single-family home sales dropped to 307,000, when seasonally adjusted, in December 2011 — down 2.2 percent from November and 7.3 percent from December 2010, according to figures released today by the U.S. Department of Commerce in conjunction with the U.S. Department of Housing and Urban Development.

Economists have said that 700,000 homes should sell per month nationwide in a healthy housing market, according to a report from NPR.

In addition, 157,000 new construction homes hit the market in December, the seasonally adjusted numbers from the report show. The median sales price of new houses sold in December 2011 was $210,300, while the average sales price was $266,000.The 323,000 new construction homes that sold last year make 2011 the worst year for new construction sales on record, according to NPR’s story. The story said records have been kept since 1963.

However, Bob Nielsen, chairman of the National Association of Home Builders, found the numbers positive. “December’s small decline in new home sales follows three consecutive months of gains and means the fourth quarter was still stronger than the third,” Neilsen noted in a statement from the association.

An estimated 302,000 new construction homes were sold in 2011 according to the report. The sales numbers for 2011 is down 6.2 percent from the 2010 figure of 323,000. — Guelda Voien


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Clint Eastwood and The Ranch at Fisher Creek (Getty, Engel & Völkers Vancouver/Sona Visual)
“Unforgiven” ranch listed for $19.2M
“Unforgiven” ranch listed for $19.2M
A roughly 450-acre estate in Colorado has sold for $40 million (360 Productions, Getty)
Developer pays $40M for Colorado estate with two shooting ranges
Developer pays $40M for Colorado estate with two shooting ranges
Las Vegas Sands' Robert Goldstein with  the Sands Macao (Getty, Sands Resorts Macao, Sands)
Three US casino companies receive tentative renewals in Macau
Three US casino companies receive tentative renewals in Macau
Icon's Jason Ballard (Jason Ballard via Twitter, Getty)
Icon lands a $57M lunar construction deal with NASA
Icon lands a $57M lunar construction deal with NASA
(Getty; Illustration by The Real Deal)
TikTokers are office work’s biggest cheerleaders
TikTokers are office work’s biggest cheerleaders
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...