 New Home Sales LowerThursday, March 24, 2011 - Article by: Patrick Bodine -
New Residential Sales data provides statistics on the sales of new privately-owned single-family residential structures in the United States. Data included in the press release are (1) the number of new single-family houses sold; (2) the number of new single-family houses for sale; and (3) the median and average sales prices of new homes sold. A house is considered sold when either a sales contract has been signed or a deposit accepted. Included in our estimates are houses for which a sales contract is signed or deposit accepted before construction has actually started; for instance, houses sold from a model or from plans before any work has started on the footings or foundations. These estimates also include houses sold while under construction or after completion. This survey does not follow through to the completion ("closing") of the sales transaction, so even if the transaction is not finalized, the house is still considered sold. Preliminary new home sales figures are subject to revision due to the survey methodology and definitions used. The survey is primarily based on a sample of houses selected from building permits. New residential sales estimates only include new single-family residential structures. Sales of multi-family units are excluded from these statistics. Here is a Quick Recap from Reuters... RTRS-US JAN SINGLE-FAMILY HOME SALES 284,000 UNIT ANN. RATE (CONS 310,000) VS DEC 325,000 (PREV 329,000) Excerpts from the Release... Sales of new single-family houses in January 2011 were at a seasonally adjusted annual rate of 284,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.6 percent (?11.2%) below the revised December rate of 325,000 and is 18.6 percent (?15.4%) below the January 2010 estimate of 349,000. |
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