Year over year, December’s seasonally adjusted annual sales rate rose 8.8%, compared with 442,000 a year ago. On an unadjusted basis, 2014 sales totaled an estimated 435,000 homes, up 1.2% from 429,000 in 2013 and the highest total since 2008.
At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million.
The Census Bureau also reported a $268,100 median sales price for new homes sold in December, up from $280,900 in November, and the average sales price rose from $321,800 to $377,800. As of the end of December, the number of new homes for sale rose from 213,000 in November to 219,000, a supply of 5.5 months at the current sales rate.
In December, 50% of the estimated 34,000 monthly sales were for homes priced at less than $300,000. The rise in December’s median and average sales prices is due to more sales of more expensive homes, including a jump of six points in homes sold in the range of $300,000 to $399,999. Sales of homes priced above $750,000 rose four points in December to 8% of all homes.
Top Gaining Stocks
Top Losing Stocks