New Residential Sales - Census.gov

FOR RELEASE AT 10:00 AM EST, THURSDAY, JANUARY 25, 2018

MONTHLY NEW RESIDENTIAL SALES, DECEMBER 2017 Release Number: CB18-13 January 25, 2018 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for December 2017:

New Residential Sales

NEW RESIDENTIAL SALES DECEMBER 2017 625,000

New Houses For Sale2:

295,000

Median Sales Price:

$335,400

Next Release: February 26, 2018

800

Thousands of Units

New Houses Sold1:

(Seasonally Adjusted Annual Rate)

600 400 200 Houses Sold

1

Seasonally Adjusted Annual Rates 2 Seasonally Adjusted Source: U.S. Census Bureau, HUD, January 25, 2018

0 Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Dec-17

Source: U.S. Census Bureau, HUD, January 25, 2018

New Home Sales Sales of new single-family houses in December 2017 were at a seasonally adjusted annual rate of 625,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.3 percent (±11.0 percent)* below the revised November rate of 689,000, but is 14.1 percent (±13.0 percent) above the December 2016 estimate of 548,000. An estimated 608,000 new homes were sold in 2017. This is 8.3 percent (±4.1 percent) above the 2016 figure of 561,000. Sales Price The median sales price of new houses sold in December 2017 was $335,400. The average sales price was $398,900. For Sale Inventory and Months’ Supply The seasonally-adjusted estimate of new houses for sale at the end of December was 295,000. This represents a supply of 5.7 months at the current sales rate.

Data Inquiries Economic Indicators Division, Residential Construction Branch 301‐763‐5160 [email protected]

Media Inquiries Public Information Office 301‐763‐3030 [email protected]

The January report is scheduled for release on February 26, 2018. View the full schedule in the Economic Briefing Room: . The full text and tables for this release can be found at . EXPLANATORY NOTES

These statistics are estimated from sample surveys. They are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated average relative standard errors of the preliminary data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2%) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percent changes shown in the tables. Changes in seasonally adjusted statistics often show irregular movement. It takes 6 months to establish a trend for new houses sold. Preliminary new home sales figures are subject to revision due to the survey methodology and definitions used. The survey is primarily based on a sample of houses selected from building permits. Since a “sale” is defined as a deposit taken or sales agreement signed, this can occur prior to a permit being issued. An estimate of these prior sales is included in the sales figure. On average, the preliminary seasonally adjusted estimate of total sales is revised about 3 percent. Changes in sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical characteristics. Explanations of confidence intervals and sampling variability can be found on our website. API The Census Bureau’s application programming interface lets developers create custom apps to reach new users and makes key demographic, socio-economic and housing statistics more accessible than ever before. ### * The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

Data Inquiries Economic Indicators Division, Residential Construction Branch 301‐763‐5160 [email protected]

Media Inquiries Public Information Office 301‐763‐3030 [email protected]

New Privately‐Owned Houses Sold and For Sale (Thousands of Units. Detail may not add to total because of rounding.)

Table 1a ‐ Seasonally adjusted Period

United States

Sold during period1 North‐ Mid‐ east west South

West

United States

For sale at end of period North‐ Mid‐ east west South

Median Average Months' sales price sales price West supply2 ($) ($)

2016 December . . . . . . . . . . . . . . . . . . . . . . . . . 548 37 65

286

160

256

X

X

X

X 5.6

X

X

2017 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . February . . . . . . . . . . . . . . . . . . . . . . . . . . . March . . . . . . . . . . . . . . . . . . . . . . . . . . . . . April . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . May . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . July . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . August . . . . . . . . . . . . . . . . . . . . . . . . . . . . September (r) . . . . . . . . . . . . . . . . . . . . . . October (r) . . . . . . . . . . . . . . . . . . . . . . . . . November (r) . . . . . . . . . . . . . . . . . . . . . . . December (p) . . . . . . . . . . . . . . . . . . . . . . 3 . Average RSE (%) . . . . . . . . . . . . . . . . . .

599 615 638 590 606 619 564 559 639 599 689 625 8

43 34 40 38 43 43 42 35 39 40 42 41 24

73 86 84 73 62 66 66 68 74 69 70 63 18

338 336 336 331 343 333 312 318 364 344 367 331 10

145 159 178 148 158 177 144 138 162 146 210 190 14

261 263 266 266 271 272 275 280 280 286 284 295 5

X X X X X X X X X X X X X




5.2 5.1 5.0 5.4 5.4 5.3 5.9 6.0 5.3 5.7 4.9 5.7 7



Percent Change4 Dec. 2017 from Nov. 2017 . . . . . . . . . . . . ‐9.3% . 90 percent confidence interval 5 . . . . . . ± 11.0 Dec. 2017 from Dec. 2016 . . . . . . . . . . . . 14.1% . 90 percent confidence interval 5 . . . . . . ± 13.0

‐2.4% ± 40.4 10.8% ± 50.0

‐10.0% ± 25.1 ‐3.1% ± 32.5

‐9.8% ± 15.3 15.7% ± 22.1

‐9.5% ± 17.8 18.8% ± 21.9

3.9% ± 1.2 15.2% ± 5.2

X X X X

X X X X

X X X X

X X X X

16.3% ± 15.0 1.8% ± 12.9

X X X X

X X X X

Table 1b ‐ Not seasonally adjusted Period

United States

Sold during period North‐ Mid‐ east west South

2016 Annual . . . . . . . . . . . . . . . . . . . . . . . 561 32 69 2017 Annual (p) . . . . . . . . . . . . . . . . . . . . . 608 40 71 . RSE (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8 9

West

United States

For sale at end of period North‐ Mid‐ east west South

318 335 4

142 162 5

257 293 5

27 25 14

33 41 12

2.3% ± 7.6

5.4% ± 4.9

14.3% ± 8.2

X X

X X

X X

2016 December . . . . . . . . . . . . . . . . . . . . . . . . . 39 3 4

21

11

257

27


26 28 33 31 32 30 26 24 28 27 26 23 10

11 14 17 14 16 16 12 11 12 11 15 13 14

259 259 263 262 269 274 275 284 285 288 289 293 5

27 26 26 25 25 25 24 24 25 25 25 25 14

Year to year percent change⁴ . . . . . . . . . 5 . 90 percent confidence interval . . . . . .

8.3% ± 4.1

45 51 61 56 57 56 48 45 50 47 49 43 8

24.1% ± 20.6

3 2 3 4 4 4 4 3 3 3 3 3 24

5 6 7 7 6 6 6 6 6 6 5 4 18

Median Average Months' sales price sales price West supply ($) ($)

133 64 154 74 7 8

X X X

307,800 321,100 4

360,900 382,000 3

X X

X X

X X

33

133 64 6.5

327,000

382,500

33 33 35 35 37 38 37 37 37 38 40 41 12

135 137 141 139 143 147 149 153 153 152 152 154 7

315,200 298,000 321,700 311,100 323,600 315,200 322,900 314,200 331,500 318,700 334,900 335,400 4

357,700 370,500 384,400 365,800 378,400 370,600 372,400 369,200 379,300 391,000 383,600 398,900 5

X X

X X

64 63 62 63 64 65 66 70 70 73 72 74 8

5.8 5.1 4.3 4.6 4.7 4.9 5.8 6.4 5.7 6.1 5.9 6.8 7

p Preliminary r Revised S Does not meet publication standards because tests for identifiable and stable seasonalilty do not meet reliability standards X Not applicable 1

Seasonally‐adjusted houses sold are published at annual rates Ratio of houses for sale to houses sold 3 Average relative standard error for the latest 6‐month period 4 Computed using unrounded data 5 See the Explanatory Notes in the accompanying text for an explantion of 90 percent confidence intervals 2

Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, January 25, 2018. Additional information on the survey methodology may be found at .

New Privately‐Owned Houses Sold, by Sales Price (Thousands of Units. Detail may not add to total because of rounding.)

Table 2a ‐ Number of Houses1 Period Total

Under $150,000

$150,000 to $199,999

$200,000 to $299,999

Price Ranges $300,000 to $399,999

$400,000 to $499,999

$500,000 to $749,000

$750,000 and over

2016 Annual . . . . . . . . . . . . . . . . . . . . . . . 561 19 2017 Annual (p) . . . . . . . . . . . . . . . . . . . . . 608 18 . RSE (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 22

75 62 19

172 187 5

132 146 8

76 62 87 76 9 9

25 32 13

2016 December . . . . . . . . . . . . . . . . . . . . . . . . . 39 1

4

11

10

6 5

2


4 7 6 5 6 5 5 5 5 4 3 6 23

14 17 17 21 16 19 14 13 14 16 16 11 13

12 9 16 12 15 14 13 11 12 10 14 10 17

5 8 8 9 9 7 7 7 8 8 6 5 20

2 2 3 3 3 2 3 2 2 3 3 4 27

45 51 61 56 57 56 48 45 50 47 49 43 8

2 2 3 1 2 2 1 2 1 2 1 2 42

6 5 8 6 6 8 5 5 7 5 5 7 18

Table 2b ‐ Percent Distribution Period Total

Under $150,000

$150,000 to $199,999

$200,000 to $299,999

Price Ranges $300,000 to $399,999

$400,000 to $499,999

$500,000 to $749,000

$750,000 and over

2016 Annual . . . . . . . . . . . . . . . . . . . . . . . 100 3 2017 Annual (p) . . . . . . . . . . . . . . . . . . . . . 100 3 . SE (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . . X 1

13 10 2

31 31 1

24 24 2

14 11 14 12 1 1

4 5 1

2016 December . . . . . . . . . . . . . . . . . . . . . . . . . 100 2

11

27

26

14 14

6

2017 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . February . . . . . . . . . . . . . . . . . . . . . . . . . . . March . . . . . . . . . . . . . . . . . . . . . . . . . . . . . April . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . May . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . July . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . August . . . . . . . . . . . . . . . . . . . . . . . . . . . . September (r) . . . . . . . . . . . . . . . . . . . . . . October (r) . . . . . . . . . . . . . . . . . . . . . . . . . November (r) . . . . . . . . . . . . . . . . . . . . . . . December (p) . . . . . . . . . . . . . . . . . . . . . . . SE (%). . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 13 10 9 11 9 12 11 10 9 7 13 3

32 34 28 37 28 34 30 30 29 34 32 25 3

26 18 26 21 26 24 26 24 24 21 30 22 5

11 17 14 16 15 13 14 15 15 16 13 11 2

4 5 5 5 5 4 6 5 5 6 5 9 2

100 100 100 100 100 100 100 100 100 100 100 100 X

4 3 4 2 3 3 2 4 3 3 2 4 2

14 10 14 11 11 14 10 11 14 10 11 16 2

p Preliminary r Revised S Does not meet publication standards because tests for identifiable and stable seasonalilty do not meet reliability standards X Not applicable 1 2

Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported Average relative standard error for the latest 6‐month period


New Houses Sold and For Sale by Stage of Construction and Median Number of Months on Sales Market (Thousands of Units. Detail may not add to total because of rounding.)

Table 3a ‐ Seasonally adjusted 1

Period Total

Sold during period Under Not started construction

2016 December . . . . . . . . . . . . . . . . . . . . . . . . . 548 166 2017 January . . . . . . . . . . . . . . . . . . . . . . . . . . . . February . . . . . . . . . . . . . . . . . . . . . . . . . . . March . . . . . . . . . . . . . . . . . . . . . . . . . . . . . April . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . May . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . June . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . July . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . August . . . . . . . . . . . . . . . . . . . . . . . . . . . . September (r) . . . . . . . . . . . . . . . . . . . . . . October (r) . . . . . . . . . . . . . . . . . . . . . . . . . November (r) . . . . . . . . . . . . . . . . . . . . . . . December (p) . . . . . . . . . . . . . . . . . . . . . . 3 . Average RSE (%) . . . . . . . . . . . . . . . . . .

599 615 638 590 606 619 564 559 639 599 689 625 8

181 177 188 184 215 201 170 172 189 165 212 202 8

For sale at end of period Under Not started construction

Median months for 2 Completed sale

Completed

Total

200

182

256

42 154 60

X

220 224 222 224 195 213 202 187 226 219 245 206 9

198 214 228 182 196 205 192 200 224 215 232 217 10

261 263 266 266 271 272 275 280 280 286 284 295 5

46 47 48 48 49 47 46 46 47 49 47 57 8


155 157 159 159 160 161 164 170 169 172 174 174 6

60 59 59 59 62 64 65 64 64 65 63 64 7

Table 3b ‐ Not seasonally adjusted Period Total

Sold during period Under Not started construction

Completed

Total

For sale at end of period Under Not started construction

Median months for 2 Completed sale

2016 Annual . . . . . . . . . . . . . . . . . . . . . . . 561 170 2017 Annual (p) . . . . . . . . . . . . . . . . . . . . . 608 187 . RSE (%) . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 12

206 214 4

185 207 6

257 293 5

42 151 64 55 170 68 8 6 7

3.3 3.2 8

2016 December . . . . . . . . . . . . . . . . . . . . . . . . . 39 12

13

14

257

42 151 64

3.3


15 18 21 22 19 20 18 16 19 18 17 13 9

15 17 21 17 18 18 16 16 17 18 18 16 10

259 259 263 262 269 274 275 284 285 288 289 293 5

45 47 50 46 49 50 44 47 47 49 48 55 8

3.2 3.4 3.6 3.7 3.1 2.9 2.8 3.1 3.2 3.2 3.4 3.2 8

45 51 61 56 57 56 48 45 50 47 49 43 8

15 16 19 18 21 18 14 13 14 12 14 14 8

150 150 153 158 160 164 170 176 175 175 177 170 6

64 63 60 58 60 61 61 61 63 65 65 68 7

p Preliminary r Revised S Does not meet publication standards because tests for identifiable and stable seasonalilty do not meet reliability standards X Not applicable 1

Seasonally‐adjusted houses sold are published at annual rates Median number of months for sale since completion 3 Average relative standard error for the latest 6‐month period 2


New Residential Sales - Census.gov

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