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

January 27, 2010 |  8:32 am

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.

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