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April 2001 by USCensus

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									U.S. Census Bureau Steven Berman (301) 457-1321 Dale Jacobson (301) 457-1336

For Release 10:00 A.M. EDT, Thursday, May 24, 2001 CB01-91

NEW RESIDENTIAL SALES IN APRIL 2001
Sales of new one-family houses in April 2001 were at a seasonally adjusted annual rate of 894,000, according to estimates released jointly today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 10 (±8) percent below the revised March rate of 988,000, but is 6 (±9) percent above the revised April 2000 estimate of 843,000. The median sales price of new houses sold in April 2001 was $165,600; the average sales price was $199,700. At the end of April, the seasonally adjusted estimate of new houses for sale was 288,000. This represents a supply of 3.9 months at the current sales rate. Through April of this year, there were 338,000 houses sold compared with 312,000 sold during the same period last year. This is an increase of 8 (±4) percent.
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 “3 (±4) percent above” appears in the text, this indicates the range (from -1 percent to +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 contains zero, it is uncertain whether there was an increase or decrease; that is, the change is not statistically significant. 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 ±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 below.

New Residential Sales data for May 2001 will be released on Tuesday, June 26, 2001, at 10:00 A.M. EDT. This is the first newly designed “New Residential Sales” press release. New estimation methods have been implemented which resulted in revised unadjusted and seasonally adjusted data back to January 1999. Our Internet site is: http://www.census.gov/mcd

Table 1. New Houses Sold and For Sale
[Thousands of houses. Detail may not add to total because of rounding]
Sold during period NorthMideast west South
1

Period

United States

West

United States

For sale at end of period NorthMideast west South

Median Months' West supply
2

Average sales price ($)

sales price ($)

Seasonally adjusted
1999: January February March April May June July August September October November December 2000:r January February March April May June July August September October November December
r 2001: January Februaryr Marchr r

875 848 863 918 888 923 900 893 826 872 863 873 878 870 904 843 853 793 881 839 902 922 882 1,001 938 966 988

78 78 71 77 70 67 85 94 75 69 63 83 76 73 76 75 68 72 64 65 68 85 67 67 56 74 80

152 163 149 169 175 171 171 185 158 189 178 148 146 166 168 139 150 148 169 141 163 158 149 174 173 156 184

402 406 385 406 400 423 409 380 372 377 378 393 404 407 395 396 407 376 398 388 417 419 423 464 438 444 503

243 201 258 266 243 262 235 234 221 237 244 249 252 224 265 233 228 197 250 245 254 260 243 296 271 292 221

284 285 289 290 295 295 297 298 301 303 305 308 310 298 312 304 304 307 304 304 301 301 304 297 295 293 283

3.9 4.0 4.1 3.9 4.0 3.9 4.0 4.0 4.5 4.2 4.3 4.3 4.2 4.3 4.2 4.4 4.4 4.8 4.1 4.4 4.1 4.0 4.2 3.6 3.8 3.6 3.5

Aprilp
Average RSE (%)
3

894
6

75
17

164
15

437
9

218
10

288
4

3.9
5

See footnotes at end of table.

Table 1. New Houses Sold and For Sale - Con.
[Thousands of houses. Detail may not add to total because of rounding]
Sold during period NorthMideast west South West For sale at end of period NorthMideast west South West Median Months' supply2 sales price ($) Average sales price ($)

Period

United States

United States

Not seasonally adjusted
1999r 2000r RSE (%) 2000: First 4 months 2001: First 4 months RSE (%) 1999:r January February March April May June July August September October November December 2000:r January February March April May June July August September October November December
r 2001: January Februaryr Marchr

880 877 2 312 338 3 67 76 84 86 80 82 78 78 65 67 61 57 67 78 88 78 77 71 76 73 70 71 63 65 72 86 97

76 71 7 26 25 8 5 7 6 7 6 6 7 8 6 5 5 6 5 7 7 7 6 7 5 6 6 6 5 5 4 6 8

168 155 7 55 60 8 10 14 16 17 17 16 15 16 12 15 13 9 9 14 18 14 14 14 15 12 12 13 11 10 11 13 19

395 406 4 143 164 4 32 37 36 36 36 37 36 33 29 28 27 27 33 37 38 36 37 33 35 33 32 31 30 31 35 40 48

242 244 3 88 90 3 20 18 25 25 21 23 20 21 18 19 17 16 20 20 26 22 20 17 22 22 20 20 17 19 22 26 22

315 301 4 (X) (X) (X) 284 281 286 289 291 296 295 295 303 306 309 315 310 305 310 299 302 308 300 303 301 305 309 301 298 290 280

28 28 18 (X) (X) (X) 26 23 25 25 25 26 26 25 25 26 28 28 27 25 26 24 25 25 25 26 26 27 29 28 28 27 25

64 65 7 (X) (X) (X) 59 57 57 56 58 57 58 59 60 62 63 64 63 63 64 64 64 66 64 63 63 66 68 65 64 62 60

153 146 4 (X) (X) (X) 135 136 139 142 143 144 141 143 148 150 151 153 153 153 156 150 152 154 149 151 148 150 149 146 145 142 134

70 62 8 (X) (X) (X) 64 64 65 65 65 68 69 68 70 68 68 70 68 64 64 60 61 64 61 63 62 62 63 62 61 59 61

(X) (X) (X) (X) (X) (X) 4.3 3.7 3.4 3.4 3.6 3.6 3.8 3.8 4.7 4.6 5.1 5.5 4.6 3.9 3.5 3.8 3.9 4.4 3.9 4.2 4.3 4.3 4.9 4.6 4.2 3.4 2.9

161,000 169,000 2 (X) (X) (X) 153,100 160,000 157,300 159,900 154,400 159,300 158,200 154,800 163,200 161,100 172,000 164,800 163,500 162,400 165,100 162,600 164,700 160,100 169,000 166,600 171,500 176,300 174,700 162,000 171,300 167,300 163,600

195,600 207,000 2 (X) (X) (X) 182,900 191,400 189,300 192,200 187,900 193,900 189,100 193,100 194,800 200,200 211,500 202,100 200,300 199,200 204,900 207,300 200,000 197,700 202,200 200,200 208,300 215,100 210,700 208,100 209,000 210,400 206,600

Aprilp
Average RSE (%)
3

83
6

7
17

16
15

39
9

20
10

284
4

23
18

61
7

135
4

64
8

3.4
5

165,600
4

199,700
4

p

Preliminary.

r

Revised.

RSE Relative standard error.

X Not applicable.

Z Less than 0.5 percent.

1 2

Annual rates. Ratio of houses for sale to houses sold. 3 Average RSE for the latest 6-month period. 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 $200,000 to $249,999 $250,000 to $299,999 $300,000 and over

Period

Number of houses1
1999r 2000r RSE (%) 1999:r January February March April May June July August September October November December 2000:r January February March April May June July August September October November December
r 2001: January Februaryr Marchr

880 877 2 67 76 84 86 80 82 78 78 65 67 61 57 67 78 88 78 77 71 76 73 70 71 63 65 72 86 97

102 88 12 10 9 10 12 10 9 10 9 7 8 5 6 8 8 8 9 9 8 8 7 7 7 7 7 6 9 7

126 112 7 10 12 14 12 14 13 12 10 9 8 8 9 8 11 13 11 12 10 10 9 9 8 8 8 7 11 14

155 150 6 13 13 14 14 15 14 12 17 11 14 10 8 12 14 15 13 13 14 12 14 12 12 8 12 12 14 17

208 200 3 16 17 20 20 17 19 19 17 16 17 15 15 16 20 18 18 15 14 19 19 16 14 15 14 19 19 23

110 121 5 7 10 10 10 10 10 11 9 8 8 8 7 9 9 12 10 12 10 11 10 10 11 9 9 11 13 13

65 73 9 4 6 5 6 7 6 5 6 5 4 5 4 5 6 8 6 7 6 7 5 6 6 6 4 7 7 8

114 132 6 7 9 10 11 8 11 9 9 9 9 9 8 10 10 14 11 10 9 10 9 11 13 10 10 9 13 14

Aprilp
Average RSE (%)2

83
6

9
21

9
16

14
15

23
11

10
14

7
17

11
13

See footnotes at end of table.

Table 2. New Houses Sold, by Sales Price - Con.
[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 $200,000 to $249,999 $250,000 to $299,999 $300,000 and over

Period

Percent distribution
1999 r 2000 1999: January February March April May June July August September October November December 2000:r January February March April May June July August September October November December
r 2001: January Februaryr Marchr r r

100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100

12 10 15 12 12 14 12 11 13 12 12 11 8 10 11 10 10 11 11 12 10 9 10 10 11 11 8 10 8

14 13 14 16 16 14 18 15 15 13 14 12 14 15 12 14 15 14 15 14 12 12 13 11 13 12 10 13 14

18 17 19 17 17 17 18 18 16 22 17 20 17 15 18 19 17 17 17 19 16 19 17 17 13 19 17 16 18

24 23 24 22 24 24 21 23 24 22 25 25 24 26 23 25 21 23 19 19 25 26 22 20 24 22 27 22 23

13 14 11 13 12 12 13 13 14 11 13 12 14 13 13 11 14 13 15 14 15 14 14 15 14 14 16 15 14

7 8 6 8 6 7 8 7 6 7 7 6 8 8 7 8 9 8 9 8 9 7 8 9 10 7 9 8 9

13 15 11 12 12 13 10 13 12 12 13 13 15 13 15 13 15 15 13 13 13 13 16 18 15 16 13 15 14

Aprilp

100

11

11

17

27

12

8

14

p

Preliminary.

r

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 1999r 2000r RSE (%) 1999:r January February March April May June July August September October November December 2000:r January February March April May June July August September October November December 2001: Januaryr Februaryr Marchr 880 877 2 67 76 84 86 80 82 78 78 65 67 61 57 67 78 88 78 77 71 76 73 70 71 63 65 72 86 97 Not started 319 319 3 27 31 31 34 29 30 28 27 22 19 21 19 25 28 34 28 29 25 28 26 23 26 24 23 28 37 39 Under construction 353 331 3 26 28 34 34 33 32 30 31 27 30 26 23 27 31 35 31 29 26 27 29 27 26 21 21 24 30 34 Completed 208 227 6 14 18 19 18 18 20 19 20 16 17 14 15 16 19 19 19 18 19 22 17 20 19 17 21 20 19 24 Total 315 301 4 284 281 286 289 291 296 295 295 303 306 309 315 310 305 310 299 302 308 300 303 301 305 309 301 298 290 280 For sale at end of period Not started 40 39 7 38 37 37 43 39 49 47 44 45 42 38 40 40 41 44 40 37 39 37 40 39 40 41 39 40 39 44 Under construction 195 171 4 177 177 182 177 180 175 178 183 185 191 194 195 187 182 181 181 181 186 184 180 177 180 176 171 174 169 162 Completed 80 91 6 69 67 68 69 72 72 70 67 72 73 78 80 84 83 86 79 84 83 79 83 84 86 92 91 85 81 74 Median months for sale1 4.5 4.2 5 4.9 5.0 4.9 4.6 4.1 3.8 4.1 4.2 4.1 4.3 4.4 4.5 4.7 5.2 5.3 5.0 4.3 4.3 4.1 3.8 3.9 3.8 3.8 4.2 4.7 4.8 5.0

Aprilp
Average RSE (%)2

83
6

33
6

29
7

21
9

284
4

45
7

167
4

72
6

5.3
5

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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