The U.S. Census Bureau and the Department of Housing and Urban Development is reporting that sales of new single-family houses in December 2016 were at a seasonally adjusted annual rate of 536k. This number is 10.4% below November’s rate of 598k and is 0.4% below December 2015. The median sales price of new houses sold in December 2016 was $322,500; the average sales price was $384,000. The seasonally adjusted estimate of new houses for sale at the end of December was 259,000. This represents a supply of 5.8 months at the current sales rate. An estimated 563k new homes were sold in 2016, which is 12.2% higher than 2015.
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