by Calculated Risk on 1/31/2005 10:44:00 AM

The Census Bureau's report today:

Sales of new one-family houses in December 2004 were at a seasonally adjusted annual rate of 1,098,000, according to estimates released jointly today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 0.1 percent (±9.4%) above the revised November rate of 1,097,000, but is 2.0 percent (±10.6%) below the December 2003 estimate of 1,120,000.

The median sales price of new houses sold in December 2004 was $222,000; the average sales price was $276,600. The seasonally adjusted estimate of new houses for sale at the end of December was 432,000. This represents a supply of 4.8 months at the current sales rate.

In 2004, there were 1,183,000 houses sold compared with 1,086,000 houses sold during 2003, establishing a new record. This is an increase of 8.9 percent (±3.0%).