Home sales fall in December
Home sales fell 7.3 percent in December 2012, but home sales rose 8.8 percent above the level seen in December 2011.
Home sales fell 7.3 percent in December 2012, but home sales rose 8.8 percent above the level seen in December 2011.
Today, the聽U.S. Census Department聽released its monthly聽New Residential Home Sales Report聽for December showing a notable monthly decline with sales falling 7.3% since November but rising 8.8% above the level seen in December 2011 and remaining at an historically low level of 369K SAAR units.聽
It's important to recognize that the聽inventory of new homes聽appears to now be bouncing around a very low 151K units, near the lowest level seen in in at least 47 years while the聽median number of months for sale聽has improved to 4.6.聽
The monthly supply increased to 4.9 months while the median selling price increased 13.86% and the average selling price increased 15.63% from the year ago level.聽