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NEW RESIDENTIAL SALES IN JULY 2005

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					FOR IMMEDIATE RELEASE WEDNESDAY, AUGUST 24, 2005 AT 10:00 A.M. EDT Erica Filipek or Steven Berman Manufacturing and Construction Division (301) 763-5160

CB05-122

NEW RESIDENTIAL SALES IN JULY 2005
Sales of new one-family houses in July 2005 were at a seasonally adjusted annual rate of 1,410,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.5 percent (±11.2%)* above the revised June rate of 1,324,000 and is 27.7 percent (±17.2%) above the July 2004 estimate of 1,104,000. The median sales price of new houses sold in July 2005 was $203,800; the average sales price was $275,000. The seasonally adjusted estimate of new houses for sale at the end of July was 460,000. This represents a supply of 4.0 months at the current sales rate.

New Residential Sales data for August 2005 will be released on Tuesday, September 27, 2005, at 10:00 A.M. EDT. 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 6 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 Period United States Northeast Midwest
1

For sale at end of period West United States Northeast Midwest Months' South West supply
2

South

Median sales price ($)

Average sales price ($)

Seasonally adjusted
2004: July August September 1,104 1,165 1,223 57 67 79 222 217 225 497 541 562 328 340 357 400 406 411 4.4 4.3 4.1

October November December

1,306 1,175 1,247

103 85 66

248 156 244

535 594 618

420 340 319

412 419 422

3.8 4.3 4.1

2005: January February March
r

1,194 1,247 1,307

61 82 79

186 180 213

616 636 648

331 349 367

437 446 446

4.4 4.4 4.2

April May June
r r

1,269 1,298 1,324

99 89 89

206 233 237

607 603 634

357 373 364

446 449 452

4.3 4.2 4.1

July

p
3

1,410
7

98
18

205
12

612
11

495
11

460
4

4.0
6

Average RSE (%)

Percent Change: July 2005 from June 2005 90% Confidence Interval
4

6.5% ± 11.2 27.7% ± 17.2

10.1% ± 33.2 71.9% ± 78.2

-13.5% ± 26.8 -7.7% ± 23.3

-3.5% ± 14.8 23.1% ± 22.4

36.0% ± 26.4 50.9% ± 39.7

1.8% ± 1.8 15.0% ± 11.4 Not seasonally adjusted

-2.4% ± 11.5 -9.1% ± 12.4

July 2005 from July 2004 90% Confidence Interval
4

2003: 2004: RSE (%) 2004: Year to Date 2005: Year to Date RSE (%)

1,086 1,203 2

79 83 11

189 210 5

511 562 4

307 348 4

377 431 3

29 30 12

97 111 8

172 200 5

79 91 7

(X) (X) (X)

195,000 221,000 3

246,300 274,500 3

739 801 3

51 53 13

127 130 6

346 384 5

215 235 5

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

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

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

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

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

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

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

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

Year to Date Percent Change 5 90% Confidence Interval
2004: July August September
4

8.4% ± 7.2
96 102 94

2.9% ± 28.8
4 6 7

2.0% ± 13.9
20 19 17

10.8% ± 11.9
44 47 42

9.7% ± 11.3
27 30 28

397 404 413

29 30 30

101 102 104

184 187 191

83 84 89

4.2 4.0 4.4

212,400 218,100 211,600

279,200 272,200 269,200

October November December

101 84 83

8 6 5

20 12 15

40 44 43

33 23 20

414 423 431

29 30 30

105 111 111

196 195 200

83 87 91

4.1 5.0 5.2

229,200 224,500 229,600

289,600 283,200 284,300

2005: January February March
r

92 109 127

4 7 7

12 15 21

50 56 62

25 31 37

441 439 441

32 32 33

112 113 113

204 205 206

92 90 90

4.8 4.0 3.5

223,100 237,300 229,300

283,000 289,100 289,600

April May June
r r

116 120 117

9 9 8

20 22 22

54 55 54

33 35 32

441 445 454

33 36 38

110 107 105

208 210 216

90 92 95

3.8 3.7 3.9

236,300 228,100 219,500

289,100 287,500 272,200

Julyp
Average RSE (%)
3

120
7

8
18

18
12

52
11

42
11

455
4

40
12

104
8

220
7

91
4

3.8
6

203,800
5

275,000
4

p

Preliminary. Annual rates.

r

Revised.
2

RSE Relative standard error.

X Not applicable.
3

Z Less than 0.5 percent.

1 4

Ratio of houses for sale to houses sold.

Average RSE for the latest 6-month period.
5

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 $100,000 $100,000 to $124,999 $125,000 to $149,999 $150,000 to $199,999
1

Period

$200,000 to $249,999

$250,000 to $299,999

$300,000 and over

Number of houses
2003: 2004: RSE (%) 1,086 1,203 2 54 48 21 96 85 10 146 137 8

264 254 6

148 181 6

112 131 6

266 368 6

2004:

July August September

96 102 94

3 5 4

7 7 7

11 12 13

22 23 19

13 15 15

10 10 8

29 31 28

October November December

101 84 83

3 3 4

7 6 4

11 9 7

21 16 17

14 14 15

11 9 9

33 27 26

2005:

January February March
r

92 109 127

4 3 4

5 8 7

10 10 15

20 21 25

13 18 20

10 12 13

29 37 43

April May June
r r

116 120 117

3 4 4

5 9 10

12 11 11

23 25 28

20 17 17

13 15 13

41 40 35

Julyp
Average RSE (%)2

120

5

10

16

27

19

8

36

7

32

24

17

13

14

16

10

Percent distribution
2003: 2004: 100 100 5 4 9 7 13 11 24 21 14 15 10 11 24 31

2004:

July August September

100 100 100

4 5 4

8 7 7

12 11 14

23 23 20

13 14 16

10 9 8

30 30 30

October November December

100 100 100

3 4 5

7 7 5

11 11 9

21 19 21

14 17 18

11 10 11

33 32 31

2005:

January February March
r

100 100 100

5 3 3

6 7 6

11 9 12

22 19 19

14 16 16

11 11 10

32 34 34

April May June
r r

100 100 100

3 3 3

4 8 8

10 9 9

20 21 24

17 14 15

11 12 11

35 33 30

Julyp
p r

100

4

8

13

22

16

7

30

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
2003: 2004: RSE (%) 2004: July August September 1,086 1,203 2

For sale at end of period Not started
51 68 5

Median months Completed
90 103 6

Not started
416 482 3

Under construction
406 439 3

Completed
264 281 7

Total
377 431 3

Under construction
236 260 4

for sale1
3.6 4.1 8

96 102 94

38 35 33

36 40 37

21 26 25

397 404 413

67 63 70

242 251 253

89 89 90

3.6 3.7 4.0

October November December

101 84 83

39 35 34

41 28 28

20 21 21

414 423 431

62 68 68

256 258 260

96 97 103

3.8 4.0 4.1

2005:

January February March
r

92 109 127

43 47 51

30 38 47

19 24 29

441 439 441

67 67 78

267 266 258

106 107 105

4.3 4.4 4.4

April May June
r r

116 120 117

45 44 43

43 44 43

28 32 31

441 445 454

78 82 91

260 260 264

103 103 99

4.4 3.9 4.0

Julyp
Average RSE (%)
2

120
7

48
8

44
8

28
9

455
4

98
5

261
5

96
6

3.9
7

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.