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New Residential Sales In August 2009 Explanatory Notes

FOR IMMEDIATE RELEASE WEDNESDAY, JANUARY 27, 2010 AT 10:00 A.M. EST
CB10-12
Erica Filipek or Stephen Cooper
Manufacturing and Construction Division
(301) 763-5160
NEW RESIDENTIAL SALES IN DECEMBER 2009
Sales of new one-family houses in December 2009 were at a seasonally adjusted annual rate of 342,000, according to
estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 7.6 percent (±14.6%)* below the revised November rate of 370,000 and is 8.6 percent (±15.2%)* below the
December 2008 estimate of 374,000.
The median sales price of new houses sold in December 2009 was $221,300; the average sales price was $290,600. The
seasonally adjusted estimate of new houses for sale at the end of December was 231,000. This represents a supply of 8.1
months at the current sales rate.
An estimated 374,000 new homes were sold in 2009. This is 22.9 percent (±2.9%) below the 2008 figure of 485,000.
New Residential Sales data for January 2010 will be released on Wednesday, February 24, 2010, at 10:00 A.M. EST.
Our Internet site is: http://www.census.gov/newhomesales
http://www.census.gov/newhomesales
EXPLANATORY NOTES
These statistics are estimated from sample surveys. They are subject to sampling variability as well as nonsampling error including bias and variance from response,
nonreporting, and undercoverage. Estimated average relative standard errors of the preliminary data are shown in the tables. Whenever a statement such as “2.5
percent (±3.2%) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred. All ranges
given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically
significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply
to the confidence intervals for percent changes shown in the tables. Changes in seasonally adjusted statistics often show irregular movement. It takes 4 months to
establish a trend for new houses 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. Since a “sale” is defined as a deposit taken or sales agreement signed, this can occur prior to a
permit being issued. An estimate of these prior sales is included in the sales figure. On average, the preliminary seasonally adjusted estimate of total sales is revised
about 3 percent. Changes in sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical
characteristics. Explanations of confidence intervals and sampling variability can be found on our web site listed above.
* 90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.
Table 1. New Houses Sold and For Sale
[Thousands of houses. Detail may not add to total because of rounding]
Sold during period1
For sale at end of period
Median Average
Period
United
North- Mid-
United
North- Mid-
Months'
sales sales
States east west
South
West
States east west
South
West
supply2
price ($)
price ($)
Seasonally adjusted
2008:
December
374 30 59
193 92
350
11.2
2009:
January
329 30 53
181 65
340
12.4
February
354 28 50
207 69
328
11.1
March
332 19 44
195 74
313
11.3
April
345 21 40
204 80
300
10.4
May
371 25 48
206 92
293
9.5
June
399 36 60 197 106 280
8.4
July
419 41 57
223 98
270
7.7
August
408 36 56 208 108 262
7.7
r
September
391 37 66
192 96
252
7.7
r
October
408 33 56
224 95
242
7.1
r
November
370 28 73
192 77
235
7.6
Decemberp
342 40 43
178 81
231
8.1
Average RSE (%)3
8 27 20 11 14 3
7
Percent Change:
December 2009 from November 2009
-7.6%
42.9%
-41.1%
-7.3%
5.2%
-1.7%
6.6%
90% Confidence Interval 4
± 14.6
± 61.9
± 24.0
± 18.0
± 30.8
± 1.3
± 20.0
December 2009 from December 2008
-8.6%
33.3%
-27.1%
-7.8%
-12.0%
-34.0%
-27.7%
90% Confidence Interval 4
± 15.2
± 64.8
± 25.6
± 22.6
± 26.0
± 2.9
± 14.3
Not seasonally adjusted
2008:
485 35 70
266
114
352 37 57
175 83 (X)
232,100 292,600
2009:
374 31 54
202 87
234 28 38
119 49 (X)
215,900 270,400
RSE
(%)
3
10
15 4 6 3
12 8 5 7
(X)
3
3
Year to Year Percent Change 5
-22.9%
-11.4%
-22.9%
-24.1%
-23.7%
(X) (X) (X) (X) (X) (X)
(X)
(X)
90% Confidence Interval 4
± 2.9
± 11.5
± 11.2
± 4.4
± 5.8
(X) (X) (X) (X) (X) (X)
(X)
(X)
2008:
December
26 2 4
14 6
352
37
57
175
83
13.6
229,600
263,100
2009:
January
24 2 3
14 5
340
36
55
169
79
14.3
208,600
245,200
February
29 2 4
17 6
324
35
52
161
76
11.2
209,700
258,600
March
31 2 4
18 7
311
35
51
154
71
9.9
205,100
259,800
April
32 2 4
18 7
300
34
50
148
69
9.4
219,200
269,800
May
34 2 5
19 9
290
33
49
143
65
8.4
222,300
274,600
June
37 3 6 19 10
282 32 48
140 62 7.6 214,700 274,800
July
38 4 5
20 9
272
30
46
136
59
7.2
214,200
271,100
August
36 3 5
19 9
263
30
45
132
56
7.3
207,100
257,800
r
September
30 3 5
14 8
254
29
43
130
53
8.4
216,600
290,300
r
October
33 3 5
19 8
242
28
42
122
50
7.3
213,700
262,200
r
November
26 2 5
14 5
234
28
39
119
48
8.9
210,300
270,000
Decemberp
23 3 3 12 5
234 28 38
119 49
10.2
221,300
290,600
Average RSE (%)3
8 27 20 11 14 3 12 10 4 8 7
5
6
pPreliminary. rRevised. RSE Relative standard error. X Not applicable. Z Less than 0.5 percent.
1Seasonally adjusted houses sold are published at annual rates. 2Ratio of houses for sale to houses sold. 3Average RSE for the latest 6-month period.
4See the Explanatory Notes in the accompanying text for an explanation of 90% confidence intervals.
5 Computed using unrounded data.
Note: The sales price includes the land.
Table 2. New Houses Sold, by Sales Price
[Thousands of houses. Components may not add to total because of rounding. Percents computed from unrounded figures]
Under
$150,000 to
$200,000 to
$300,000 to
$400,000 to
$500,000 to
$750,000
Period
Total $150,000
$199,999 $299,999
$399,999
$499,999 $749,999 and
over
Number of houses1
2008:
485 77
106
149 69 35 31 18
2009:
374 67 97
113 45 23 19 10
RSE
(%)
3
10 7 5 7
10
11
17
2008:
December
26 4 6 9 4 2 1
(Z)
2009:
January
24 5 7 7 3 1 1
(Z)
February
29 6 7 9 3 2 1 1
March
31 6 8
10 3 2 2 1
April
32 6 8
10 4 2 1 1
May
34 5 9
11 4 3 2 1
June
37 6
10
11 5 2 2 1
July
38 6
11
10 5 2 2 1
August
36 8 9
10 4 3 2 1
r
September
30 5 8
10 3 2 2 1
r
October
33 6 8
12 4 2 1 1
r
November
26 5 7 8 3 1 1 1
Decemberp
23 4 5 6 3 1 2 1
Average RSE (%)2
8 18 15 14 19 28 36 40
Percent distribution
2008:
100 16 22 31 14 7 6 4
2009:
100 18 26 30 12 6 5 3
2008:
December
100 15 25 33 15 7 4 1
2009:
January
100 19 28 31 12 6 3 1
February
100 20 25 30 12 7 5 2
March
100 20 27 31 10 5 5 2
April
100 18 24 31 14 7 4 3
May
100 15 25 32 13 9 5 2
June
100 17 28 30 12 4 5 3
July
100 17 28 27 14 5 6 3
August
100 22 26 28 10 8 5 1
r
September
100 15 26 32 11 5 8 3
r
October
100 19 24 35 11 5 4 2
r
November
100 20 27 30 11 5 3 4
Decemberp
100 19 24 24 14 5 8 7
pPreliminary. rRevised. RSE Relative standard error. X Not applicable. Z Less than 0.5 percent.
1Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported.
2Average RSE for the latest 6-month period.
Note: The sales price includes the land.
Table 3. New Houses Sold and For Sale by Stage of Construction and Median Number of Months on Sales Market
[Thousands of houses. Detail may not add to total because of rounding]
Sold during period
For sale at end of period
Median
Period
Not Under
Not Under
months
Total started
construction
Completed Total started
construction
Completed for sale1
2008:
485 104 134 247 352 41 139 172 9.2
2009:
374 84 107 184 234 34 101 99 13.9
RSE
(%)
3 7 5 5 3 5 4 6 8
2008:
December
26
4
6 16 352 41 139 172 9.2
2009:
January
24
6
5 13 340 40 133 167 9.4
February
29
6
7 16 324 38 127 159 9.9
March
31
7
7 17 311 39 120 152 10.2
April
32
7
8 17 300 39 118 143 10.8
May
34 10 9 16
290 39
115
136
11.5
June
37 9 11 18
282 37
116
128
11.9
July
38 8 12 18
272 35
116
121
12.5
August
36 8 12 16
263 35
113
115
12.9
r
September
30 6 10 15
254 32
112
111
13.2
r
October
33 6 11 16
242 30
106
106
13.7
r
November
26
6
8 12 234 28 105 101 13.8
Decemberp
23
7
6 10 234 34 101 99 13.9
Average RSE (%)2
8 8
10
10 3 8 5 5 5
pPreliminary. rRevised. RSE Relative standard error. Z Less than 0.5 percent.
1Median number of months for sale since completion.
2Average RSE for the latest 6-month period.