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New Residential Sales In July 2009

VIEWS: 81 PAGES: 4

									FOR IMMEDIATE RELEASE WEDNESDAY, AUGUST 26, 2009 AT 10:00 A.M. EDT
CB09-131 Erica Filipek or Stephen Cooper Manufacturing and Construction Division (301) 763-5160

NEW RESIDENTIAL SALES IN JULY 2009
Sales of new one-family houses in July 2009 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent (±13.4%)* above the revised June rate of 395,000, but is 13.4 percent (±12.9%) below the July 2008 estimate of 500,000. The median sales price of new houses sold in July 2009 was $210,100; the average sales price was $269,200. The seasonally adjusted estimate of new houses for sale at the end of July was 271,000. This represents a supply of 7.5 months at the current sales rate.

New Residential Sales data for August 2009 will be released on Friday, September 25, 2009, at 10:00 A.M. EDT. http://www.census.gov/newhomesales Our Internet site is: 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 period 1 Period United States Northeast Midwest South West United States For sale at end of period Northeast Midwest Months' South West supply2 Median sales price ($) Average sales price ($)

Seasonally adjusted

2008: July August September

500 444 436

41 28 25

64 72 63

272 252 246

123 92 102

419 412 395

10.1 11.1 10.9

October November December

409 390 374

35 38 30

63 55 59

225 210 193

86 87 92

380 370 350

11.1 11.4 11.2

2009: January February March
r

329 354 332

30 28 19

53 50 44

181 207 195

65 69 74

340 328 313

12.4 11.1 11.3

April May June
r r

345 362 395

21 25 34

40 48 66

204 202 191

80 87 104

300 293 280

10.4 9.7 8.5

Julyp
Average RSE (%)3

433
8

45
33

61
22

222
11

105
14

271
4

7.5
8

Percent Change: July 2009 from June 2009 90% Confidence Interval
4

9.6% ± 13.4 -13.4% ± 12.9

32.4% ± 87.3 9.8% ± 58.9

-7.6% ± 18.2 -4.7% ± 29.9

16.2% ± 20.1 -18.4% ± 19.2

1.0% ± 20.8 -14.6% ± 18.2

-3.2% ± 0.9 -35.3% ± 2.4 Not seasonally adjusted

-11.8% ± 11.7 -25.7% ± 11.0

July 2009 from July 2008 90% Confidence Interval
4

2007: 2008: RSE (%) 2008: Year to Date 2009: Year to Date RSE (%)

776 485 3 327 226 4

65 35 9 23 17 10

118 70 11 45 32 16

411 266 4 180 124 5

181 114 4 80 53 7

496 352 3 (X) (X) (X) (X) (X)

48 37 12 (X) (X) (X) (X) (X)

79 57 8 (X) (X) (X) (X) (X)

248 175 5 (X) (X) (X) (X) (X)

121 83 7 (X) (X) (X) (X) (X)

(X) (X) (X) (X) (X) (X) (X) (X)

247,900 232,100 3 (X) (X) (X) (X) (X)

313,600 292,600 3 (X) (X) (X) (X) (X)

Year to Date Percent Change 5 90% Confidence Interval
2008: July August September
4

-31.1% ± 3.2
43 38 35

-22.8% ± 10.4
3 2 2

-30.2% ± 13.6
6 7 5

-31.1% ± 4.4
24 21 20

-33.7% ± 6.0
11 8 8

421 411 398

42 42 41

69 67 65

210 205 198

100 98 94

9.8 10.8 11.4

237,300 221,000 225,200

301,900 265,500 287,100

October November December

32 27 26

3 3 2

5 4 4

17 15 14

7 6 6

384 369 352

39 38 37

62 61 57

192 183 175

91 87 83

12.0 13.6 13.6

213,200 221,600 229,600

274,000 290,100 263,100

2009: January February March
r

24 29 31

2 2 2

3 4 4

14 17 18

5 6 7

340 324 311

36 35 35

55 52 51

169 161 154

79 76 71

14.3 11.2 9.9

208,600 209,700 205,100

245,200 258,600 259,800

April May June
r r

32 34 36

2 3 3

4 5 6

18 19 18

7 8 9

300 290 281

34 33 32

50 49 47

148 143 140

69 65 62

9.4 8.6 7.7

219,200 221,400 210,400

269,800 275,400 276,900

Julyp
Average RSE (%)3

39
8

4
33

5
22

21
11

10
14

272
4

31
14

45
10

137
4

60
8

6.9
8

210,100
4

269,200
5

p

Preliminary.

r

Revised.

RSE Relative standard error.

X Not applicable.
2

Z Less than 0.5 percent.
3

1 4

Seasonally adjusted houses sold are published at annual rates.

Ratio of houses for sale to houses sold.
5

Average RSE for the latest 6-month period.

See the Explanatory Notes in the accompanying text for an explanation of 90% confidence intervals.

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 Total $150,000 $150,000 to $199,999 $200,000 to $299,999 $300,000 to $399,999
1

Period

$400,000 to $499,999

$500,000 to $749,999

$750,000 and over

Number of houses
2007: 2008: RSE (%) 776 485 3 106 77 11 162 106 7 227 149 4

121 69 7

65 35 8

62 31 9

32 18 15

2008:

July August September

43 38 35

8 7 7

9 9 8

12 12 10

6 5 4

4 3 2

3 1 3

2 1 1

October November December

32 27 26

6 5 4

8 6 6

10 8 9

4 4 4

2 1 2

1 2 1

1 1 (Z)

2009:

January February March
r

24 29 31

5 6 6

7 7 8

7 9 10

3 3 3

1 2 2

1 1 2

(Z) 1 1

April May June
r r

32 34 36

6 5 7

8 9 10

10 11 10

4 4 5

2 3 2

1 2 2

1 1 1

Julyp
Average RSE (%)2

39
8

7
19

11
16

10
13

5
20

2
27

2
28

1
44

Percent distribution
2007: 2008: 100 100 14 16 21 22 29 31 16 14 8 7 8 6 4 4

2008:

July August September

100 100 100

18 17 19

20 23 24

27 31 29

14 14 10

10 9 6

7 4 8

5 2 4

October November December

100 100 100

18 19 15

24 22 25

32 28 33

12 14 15

7 5 7

4 8 4

4 4 1

2009:

January February March
r

100 100 100

19 20 20

28 25 27

31 30 31

12 12 10

6 7 5

3 5 5

1 2 2

April May June
r r

100 100 100

18 14 18

24 25 29

31 32 28

14 13 13

7 9 4

4 5 5

3 2 3

Julyp
p r

100

18

28

26

13

5

6

3

Preliminary.

Revised.

RSE Relative standard error.

X Not applicable.

Z Less than 0.5 percent.

1 2

Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported. Average 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 Period Total
2007: 2008: RSE (%) 2008: July August September 776 485 3 43 38 35

For sale at end of period Not started
69 41 5 56 54 50

Median months Completed
198 172 6 173 171 173

Not started
196 104 7 9 8 5

Under construction
255 134 5 13 11 10

Completed
325 247 6 21 19 19

Total
496 352 3 421 411 398

Under construction
228 139 4 192 186 175

for sale1
6.2 9.2 8 8.5 9.0 9.1

October November December

32 27 26

5 4 4

9 7 6

18 16 16

384 369 352

46 43 41

166 155 139

172 171 172

9.1 9.2 9.2

2009:

January February March
r

24 29 31

6 6 7

5 7 7

13 16 17

340 324 311

40 38 39

133 127 120

167 159 152

9.4 9.9 10.2

April May June
r r

32 34 36

7 9 9

8 9 11

17 16 17

300 290 281

39 39 39

118 115 114

143 136 128

10.8 11.5 11.8

Julyp
2

39

12

11

16

272

40

112

120

12.4

Average RSE (%)

8

9

10

9

4

8

5

5

6

p

Preliminary.

r

Revised.

RSE Relative standard error.

Z Less than 0.5 percent.

1 2

Median number of months for sale since completion. Average RSE for the latest 6-month period.


								
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