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New home sales in U.S. fall 7.6% in December

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Sales of new U.S. homes declined 7.6% in December, the government said this morning.

The seasonally adjusted annual sales rate for single-family homes in the U.S. was 342,000, down from a revised November rate of 370,000 and 8.6% below the December 2008 estimate of 374,000.

The median sales price of new houses sold in December 2009 was $221,300. The median is the point at which half the homes sold for more and half for less.

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The seasonally adjusted estimate of new houses for sale at the end of December was 231,000, a supply of 8.1 months at the current sales clip.

For the year, an estimated 374,000 new homes were sold in 2009, a decline of 22.9% from the 2008 figure of 485,000.

-- Alejandro Lazo

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