The U.S. Census Bureau and the U.S. Department of Housing and Urban Development recently reported that sales of new single-family houses in December were at a seasonally adjusted annual rate of 625k. This is 9.3% lower than November’s revised estimate, however it is 14.1% higher than December 2016. There were an estimated 608k new homes sold in 2017 which is 8.3% higher the 2016’s total. The median sales price of new houses sold in December 2017 was $335,400 and the average sales price was. $398,900. Inventory of new houses for sale at the end of December was 295k, representing a 5.7 month supply at that sales rate.
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