New Single-Family Residential Home Sales Increase in December 2020 and Year-Over-Year

The U.S. Census Bureau has reported new residential single-family home sales for December 2020 were at a SAAR of 842,000, according to estimates. This is 1.6% above the revised November rate of 829,000, but is 15.2% above the December 2019 estimate. An estimated 811,000 new homes were sold in 2020. This is 18.8% above the 2019 figure of 683,000. The median sales price of a new house sold in December 202 was $ 355,900. The average sales price was $ 394.900. The seasonally-adjusted estimate of new houses for sale at the end of December was 302,000. This represents a 4.3 months supply based on the current rate of sales.