New Home Sales Very Close to 8-Year High

Posted To: MND NewsWire

New home sales more or less blew away the experts in December, coming in at a seasonally adjusted annual rate of 544,000 units. The Census Bureau and the Department of Housing and Urban Development said that sales of newly constructed homes were up 10.8 percent from November and 9.9 percent from December 2014 sales of 495,000. Sales in November were revised up slightly from 490,000 to 491,000. The median forecast among economists called for an annual pace of 500,000 units. On a non-seasonally adjusted basis there were 38,000 homes sold, compared to 34,000 in November. At the end of the reporting period 238,000 new homes remained available for sale, a 5.2 month supply. The median price of a home sold in December was $288,900, the second lowest median of the year, compared to $302,000 in December...(read more)

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