Landlords who are interested in selling buildings in the current market conditions must be aware that for a New House it took a wait up to 3.2 months in order to successfully sell a home. It is also an indicator for Realtors who expect commissions after transactions. The U.S. Census Bureau and the U.S. Department of Housing reported today that the waiting period for selling New Houses roughly approaches three months and a half. The statistic barely changed the December 2012 figure.
In terms of prices, New Houses in the United States were sold mostly in the range of $200,000 and $299,999. which accounted for 31% of the sales according to Census Bureau Survey. Only 3% of New Houses were sold above 750,000 while 8% were around $500,000 and $749,999. Housing prices at the high end has proven to drive housing market prices up, that is why reporting the former two figures is important.
Regionally speaking, the Midwest was the only region that showed improvement in a month to month basis. All other regions declined. The Northeast region declined -36.4% the number of houses sold from the previous month, so did the South and the West with -7.3% and -8.8% respectively. However, the year to year percentage change comparison shows 5.4% for the Northeast region, while the West accounted for 8.9% change. The South and the Midwest statistics showed grater percent changes than the Northeast and the West. Midwest region: 28.2%; and, South region: 18,9%.
The U.S. Census Report included the following narrative:
“An estimated 428,000 new homes were sold in 2013. This is 16.4 percent (±4.0%) above the 2012 figure of 368,000.
The median sales price of new houses sold in December 2013 was $270,200; the average sales price was $311,400. The seasonally adjusted estimate of new houses for sale at the end of December was 171,000. This represents a supply of 5.0 months at the current sales rate.
Sales of new single-family houses in December 2013 were at a seasonally adjusted annual rate of 414,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.0 percent (±17.5%)* below the revised November rate of 445,000, but is 4.5 percent (±19.8%)* above the December 2012 estimate of 396,000” (U.S. Census Bureau, January 27th, 2014.
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