FOR IMMEDIATE RELEASE MONDAY, JULY 27, 2009 AT 10:00 A.M. EDT
CB09-116 Erica Filipek or Stephen Cooper Manufacturing and Construction Division (301) 763-5160
NEW RESIDENTIAL SALES IN JUNE 2009
Sales of new one-family houses in June 2009 were at a seasonally adjusted annual rate of 384,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 11.0 percent (±13.2%)* above the revised May rate of 346,000, but is 21.3 percent (±11.4%) below the June 2008 estimate of 488,000. The median sales price of new houses sold in June 2009 was $206,200; the average sales price was $276,900. The seasonally adjusted estimate of new houses for sale at the end of June was 281,000. This represents a supply of 8.8 months at the current sales rate.
New Residential Sales data for July 2009 will be released on Wednesday, August 26, 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 period1 Period United States Northeast Midwest South West United States For sale at end of period Northeast Midwest Months' South West supply
2
Median sales price ($)
Average sales price ($)
Seasonally adjusted
2008: June July August September October November December 2009: January February March April May
r r r
488 500 444 436 409 390 374 329 354 332 338 346
p
3
35 41 28 25 35 38 30 30 28 19 22 24
69 64 72 63 63 55 59 53 50 44 41 51
270 272 252 246 225 210 193 181 207 195 198 187
114 123 92 102 86 87 92 65 69 74 77 84
436 419 412 395 380 370 350 340 328 313 301 293
10.7 10.1 11.1 10.9 11.1 11.4 11.2 12.4 11.1 11.3 10.7 10.2
June
384
8
31
34
73
22
177
11
103
16
281
4
8.8
8
Average RSE (%)
Percent Change: June 2009 from May 2009 90% Confidence Interval
4
11.0% ± 13.2 -21.3% ± 11.4
29.2% ± 112.4 -11.4% ± 78.4
43.1% ± 57.5 5.8% ± 25.8
-5.3% ± 15.5 -34.4% ± 12.8
22.6% ± 29.9 -9.6% ± 26.9
-4.1% ± 1.2 -35.6% ± 2.4 Not seasonally adjusted
-13.7% ± 11.1 -17.8% ± 13.2
June 2009 from June 2008 90% Confidence Interval
4
2007: 2008: RSE (%) 2008: Year to Date 2009: Year to Date RSE (%)
776 485 3 284 184 4
65 35 9 19 13 14
118 70 11 40 28 17
411 266 4 156 101 5
181 114 4 69 43 8
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: June July August September October November December 2009: January February March April May
r r r 4
-35.2% ± 3.5
45 43 38 35 32 27 26 24 29 31 32 33
-31.6% ± 14.4
3 3 2 2 3 3 2 2 2 2 2 2
-30.7% ± 14.0
7 6 7 5 5 4 4 3 4 4 4 5
-35.5% ± 4.3
25 24 21 20 17 15 14 14 17 18 18 17
-38.1% ± 7.3
10 11 8 8 7 6 6 5 6 7 7 8
435 421 411 398 384 369 352 340 324 311 300 290
43 42 42 41 39 38 37 36 35 35 34 33
69 69 67 65 62 61 57 55 52 51 50 49
218 210 205 198 192 183 175 169 161 154 148 143
104 100 98 94 91 87 83 79 76 71 69 66
9.6 9.8 10.8 11.4 12.0 13.6 13.6 14.3 11.2 9.9 9.5 8.9
234,300 237,300 221,000 225,200 213,200 221,600 229,600 208,600 209,700 205,100 217,100 219,000
299,400 301,900 265,500 287,100 274,000 290,100 263,100 245,200 258,600 259,800 268,800 277,000
Junep
Average RSE (%)
3
36
8
3
34
7
22
17
11
9
16
282
4
32
14
46
10
141
4
63
8
7.9
8
206,200
5
276,900
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 $400,000 to $499,999 $500,000 to $749,999 $750,000 and over
Period
Number of houses1
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:
May June
49 45
9 8
11 9
15 14
5 7
4 2
3 2
2 2
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 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
r
32 33
6 5
8 8
10 10
4 4
2 3
1 2
1 1
Junep
Average RSE (%)2
36
8
7
19
10
16
10
14
4
21
1
29
2
29
1
49
Percent distribution
2007: 2008: 100 100 14 16 21 22 29 31 16 14 8 7 8 6 4 4
2008:
May June
100 100
18 17
22 20
31 32
11 16
7 5
6 5
5 5
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 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
r
100 100
18 14
25 26
31 31
13 11
6 10
5 6
3 2
Junep
p r
100
20
28
28
11
4
5
4
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: June 776 485 3 45
For sale at end of period Not started
69 41 5 59
Median months Completed
198 172 6 175
Not started
196 104 7 10
Under construction
255 134 5 13
Completed
325 247 6 22
Total
496 352 3 435
Under construction
228 139 4 201
for sale1
6.2 9.2 8 8.4
July August September
43 38 35
9 8 5
13 11 10
21 19 19
421 411 398
56 54 50
192 186 175
173 171 173
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 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
r
32 33
6 8
8 9
17 15
300 290
40 40
117 114
143 136
10.8 11.5
Junep
Average RSE (%)2
36
10
10
16
282
41
113
128
11.8
8
9
11
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.