FOR RELEASE AT 10:00 AM EST, MONDAY, JANUARY 27, 2025
MONTHLY NEW RESIDENTIAL SALES, DECEMBER 2024
Release Number: CB25-13
January 27, 2025 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for December 2024:
New Home Sales
Sales of new single-family houses in December 2024 were at a seasonally adjusted annual rate of 698,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.6 percent (±19.7 percent)* above the revised November rate of 674,000 and is 6.7 percent (±16.2 percent)* above the December 2023 estimate of 654,000.
An estimated 683,000 new homes were sold in 2024. This is 2.5 percent (±4.5 percent)* above the 2023 figure of 666,000.
Sales Price
The median sales price of new houses sold in December 2024 was $427,000. The average sales price was $513,600.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of December was 494,000. This represents a supply of 8.5 months at the current sales rate.
The January report is scheduled for release on February 26, 2025. View the full schedule in the Economic Briefing Room: <www.census.gov/economic-indicators/>. The full text and tables for this release can be found at <www.census.gov/construction/nrs/>.
Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch Public Information Office 301-763-5160 301-763-3030 [email protected] [email protected]
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 3 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 3.6 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 website.
<www.census.gov/construction/soc/methodology.html>
The Census Bureau has reviewed SOC monthly and quarterly tables to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Disclosure Review Board (DRB) approval number: CBDRB-FY24-0281).
API
The Census Bureau’s application programming interface lets developers create custom apps to reach new users and makes key demographic, socio-economic and housing statistics more accessible than ever before. <www.census.gov/developers/>
FRED Mobile App
Receive the latest updates on the nation’s key economic indicators by downloading the FRED App https://fred.stlouisfed.org/fred-mobile/ for both Apple and Android devices. FRED, the signature database of the Federal Reserve Bank of St. Louis, now incorporates the Census Bureau’s 13 economic indicators.
*** The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.**
Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch Public Information Office 301-763-5160 301-763-3030 [email protected] [email protected]
New Privately-Owned Houses Sold and For Sale
(Thousands of Units. Detail may not add to total because of rounding.)
Table 1a - Seasonally adjusted
| Sold during period1 | For sale at end of period | Median | Average | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Period | United | North | Mid | United | North | Mid | Months’ | sales price | sales price | ||||
| States | east | west | South | West | States | east | west | South | West | supply2 | ($) | ($) | |
| 2023 | |||||||||||||
| December | 654 | 27 | 62 | 421 | 144 | 449 | X | X | X | X | 8.2 | X | X |
| 2024 | |||||||||||||
| January | 664 | 54 | 81 | 367 | 162 | 461 | X | X | X | X | 8.3 | X | X |
| February | 643 | 43 | 74 | 368 | 158 | 465 | X | X | X | X | 8.7 | X | X |
| March | 683 | 42 | 82 | 395 | 164 | 466 | X | X | X | X | 8.2 | X | X |
| April | 736 | 32 | 86 | 459 | 159 | 464 | X | X | X | X | 7.6 | X | X |
| May | 672 | 23 | 84 | 416 | 149 | 468 | X | X | X | X | 8.4 | X | X |
| June | 672 | 30 | 78 | 411 | 153 | 468 | X | X | X | X | 8.4 | X | X |
| July | 707 | 33 | 79 | 404 | 191 | 464 | X | X | X | X | 7.9 | X | X |
| August | 691 | 21 | 75 | 436 | 159 | 471 | X | X | X | X | 8.2 | X | X |
| September (r) | 726 | 30 | 79 | 460 | 157 | 473 | X | X | X | X | 7.8 | X | X |
| October (r) | 615 | 40 | 76 | 355 | 144 | 481 | X | X | X | X | 9.4 | X | X |
| November (r) | 674 | 24 | 90 | 432 | 128 | 488 | X | X | X | X | 8.7 | X | X |
| December (p) | 698 | 34 | 87 | 423 | 154 | 494 | X | X | X | X | 8.5 | X | X |
| . Average RSE (%) 3 | 11 | 40 | 21 | 15 | 14 | 5 | X | X | X | X | 14 | X | X |
| Percent Change4 | |||||||||||||
| Dec. 2024 from Nov. 2024 | 3.6% | 41.7% | -3.3% | -2.1% | 20.3% | 1.2% | X | X | X | X | -2.3% | X | X |
| . 90 percent confidence interval 5 | ± 19.7 | ± 161.5 | ± 34.8 | ± 23.5 | ± 44.6 | ± 1.0 | X | X | X | X | ± 15.6 | X | X |
| Dec. 2024 from Dec. 2023 | 6.7% | 25.9% | 40.3% | 0.5% | 6.9% | 10.0% | X | X | X | X | 3.7% | X | X |
| . 90 percent confidence interval 5 | ± 16.2 | ± 87.3 | ± 45.0 | ± 21.8 | ± 24.4 | ± 5.7 | X | X | X | X | ± 15.2 | X | X |
Table 1b - Not seasonally adjusted
| Sold during period | For sale at end of period | Median | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Period | United | North | Mid | United | North | Mid | Months’ | sales price | sales price | |||||
| States | east | west | South | West | States | east | west | South | West | supply | ($) | ($) | ||
| 2023 Annual | 666 | 33 | 68 | 412 | 153 | 450 | 31 | 44 | 268 | 107 | X | 428,60 | 514,00 0 0 | |
| 2024 Annual (p) | 683 | 34 | 80 | 411 | 157 | 496 | 29 | 47 | 301 | 119 | X | 420,10 | 512,20 0 0 | |
| . RSE (%) | 3 | 13 | 14 | 4 | 8 | 5 | 17 | 14 | 8 | 6 | X | 4 | 3 | |
| Year to year percent change⁴ | 2.5% | 1.7% | 19.0% | -0.2% | 2.6% | X | X | X | X | X | X | X | X | |
| . 90 percent confidence interval 5 | ± 4.5 | ± 30.0 | ± 12.1 | ± 5.4 | ± 8.7 | X | X | X | X | X | X | X | X | |
| 2023 | ||||||||||||||
| December | 49 | 2 | 4 | 33 | 10 | 450 | 31 | 44 | 268 | 107 | 9.2 | 418,30 | 493,00 0 0 | |
| 2024 | ||||||||||||||
| January | 58 | 5 | 7 | 32 | 14 | 458 | 30 | 43 | 277 | 108 | 7.9 | 430,40 | 527,80 0 0 | |
| February | 58 | 4 | 7 | 33 | 14 | 457 | 26 | 43 | 279 | 109 | 7.8 | 420,90 | 509,70 0 0 | |
| March | 65 | 4 | 8 | 38 | 15 | 455 | 24 | 42 | 279 | 109 | 7.0 | 436,40 | 522,50 0 0 | |
| April | 65 | 3 | 8 | 40 | 14 | 458 | 24 | 42 | 283 | 109 | 7.0 | 415,30 | 500,60 0 0 | |
| May | 61 | 2 | 8 | 37 | 14 | 466 | 26 | 41 | 290 | 110 | 7.6 | 414,30 | 499,30 0 0 | |
| June | 58 | 2 | 6 | 35 | 14 | 468 | 25 | 41 | 293 | 108 | 8.1 | 414,00 | 495,50 0 0 | |
| July | 61 | 3 | 8 | 34 | 16 | 467 | 26 | 40 | 295 | 106 | 7.7 | 429,00 | 513,20 0 0 | |
| August | 56 | 2 | 6 | 35 | 13 | 474 | 27 | 42 | 297 | 108 | 8.5 | 405,80 | 475,60 0 0 | |
| September (r) | 58 | 2 | 6 | 37 | 12 | 474 | 27 | 44 | 293 | 110 | 8.2 | 421,10 | 505,80 0 0 | |
| October (r) | 45 | 3 | 5 | 27 | 11 | 492 | 27 | 47 | 304 | 113 | 10.9 | 425,30 | 525,90 0 0 | |
| November (r) | 46 | 1 | 5 | 30 | 9 | 495 | 28 | 47 | 303 | 116 | 10.8 | 402,50 | 485,00 0 0 | |
| December (p) | 52 | 2 | 5 | 33 | 11 | 496 | 29 | 47 | 301 | 119 | 9.5 | 427,00 | 513,60 0 0 | |
| . Average RSE (%) 3 | 11 | 40 | 21 | 15 | 14 | 5 | 17 | 14 | 8 | 6 | 14 | 5 | 5 |
p Preliminary
r Revised
S Does not meet publication standards because tests for identifiable and stable seasonality do not meet reliability standards
X Not applicable
1 Seasonally-adjusted houses sold are published at annual rates
2 Ratio of houses for sale to houses sold
3 Average relative standard error for the latest 6-month period
4 Computed using unrounded data
5 See the Explanatory Notes in the accompanying text for an explantion of 90 percent confidence intervals
Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, January 27, 2025. Additional information on the survey methodology may be found at <www.census.gov/construction/soc/methodology.html>.
New Privately-Owned Houses Sold, by Sales Price
(Thousands of Units. Detail may not add to total because of rounding.)
Table 2a - Number of Houses1
| Price Ranges | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Period | Under | $300,000 | $400,000 | $500,000 | $600,000 | $800,000 | $1,000,000 | ||
| Total | $300,000 | to $399,999 | to $499,999 | to $599,999 | to $799,999 | to $999,999 | and over | ||
| 2023 Annual | 666 | 92 | 192 | 134 | 97 | 84 | 33 | 35 | |
| 2024 Annual (p) | 683 | 113 | 199 | 129 | 90 | 83 | 34 | 35 | |
| . RSE (%) | 3 | 12 | 10 | 8 | 23 | 21 | 12 | 12 | |
| 2023 | |||||||||
| December | 49 | 7 | 15 | 9 | 7 | 7 | 2 | 2 | |
| 2024 | |||||||||
| January | 58 | 8 | 17 | 13 | 7 | 7 | 3 | 4 | |
| February | 58 | 9 | 18 | 9 | 8 | 7 | 4 | 3 | |
| March | 65 | 9 | 18 | 12 | 10 | 8 | 4 | 4 | |
| April | 65 | 10 | 20 | 13 | 7 | 8 | 3 | 3 | |
| May | 61 | 10 | 20 | 11 | 9 | 7 | 3 | 3 | |
| June | 58 | 10 | 17 | 12 | 7 | 7 | 3 | 3 | |
| July | 61 | 10 | 17 | 11 | 10 | 7 | 3 | 3 | |
| August | 56 | 11 | 16 | 11 | 7 | 6 | 2 | 2 | |
| September (r) | 58 | 11 | 15 | 10 | 8 | 7 | 3 | 3 | |
| October (r) | 45 | 6 | 13 | 9 | 6 | 6 | 2 | 2 | |
| November (r) | 46 | 10 | 13 | 8 | 5 | 5 | 2 | 2 | |
| December (p) | 52 | 10 | 15 | 9 | 7 | 7 | 3 | 2 | |
| . Average RSE (%) 2 | 11 | 25 | 17 | 18 | 25 | 25 | 28 | 32 |
Table 2b - Percent Distribution
| Price Ranges | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Period | Under | $300,000 | $400,000 | $500,000 | $600,000 | $800,000 | $1,000,000 | |||
| Total | $300,000 | to $399,999 | to $499,999 | to $599,999 | to $799,999 | to $999,999 | and over | |||
| 2023 Annual | 100 | 14 | 29 | 20 | 15 | 13 | 5 | 5 | ||
| 2024 Annual (p) | 100 | 17 | 29 | 19 | 13 | 12 | 5 | 5 | ||
| . SE (%) | X | 2 | 3 | 1 | 3 | 3 | 1 | 1 | ||
| 2023 | ||||||||||
| December | 100 | 15 | 32 | 17 | 14 | 15 | 3 | 4 | ||
| 2024 | ||||||||||
| January | 100 | 14 | 29 | 22 | 11 | 13 | 5 | 7 | ||
| February | 100 | 15 | 31 | 16 | 14 | 12 | 6 | 5 | ||
| March | 100 | 15 | 28 | 18 | 15 | 13 | 6 | 6 | ||
| April | 100 | 16 | 30 | 21 | 11 | 13 | 4 | 5 | ||
| May | 100 | 16 | 33 | 18 | 14 | 11 | 5 | 4 | ||
| June | 100 | 17 | 29 | 21 | 12 | 11 | 4 | 5 | ||
| July | 100 | 16 | 27 | 18 | 17 | 12 | 5 | 4 | ||
| August | 100 | 19 | 30 | 21 | 12 | 12 | 3 | 4 | ||
| September (r) | 100 | 20 | 26 | 18 | 14 | 13 | 5 | 5 | ||
| October (r) | 100 | 14 | 29 | 21 | 13 | 13 | 5 | 5 | ||
| November (r) | 100 | 22 | 28 | 18 | 12 | 11 | 4 | 5 | ||
| December (p) | 100 | 20 | 28 | 18 | 13 | 13 | 5 | 4 | ||
| . SE (%). | X | 4 | 3 | 2 | 3 | 3 | 2 | 1 |
p Preliminary r Revised
A Represents an RSE or SE that is greater or equal to 100 percent or could not be computed
S Does not meet publication standards because tests for identifiable and stable seasonality do not meet reliability standards
X Not applicable Z Less than 500 units or less than 0.5 percent
1 Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported 2 Average relative standard error for the latest 6-month period
Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, January 27, 2025. Additional information on the survey methodology may be found at <www.census.gov/construction/soc/methodology.html>.
New Houses Sold and For Sale by Stage of Construction and Median Number of Months on Sales Market
(Thousands of Units. Detail may not add to total because of rounding.)
| Table 3a - Seasonally adjusted | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Sold during period1 | Median | ||||||||
| Period | Under | Under | months for | ||||||
| Total | Not started | construction | Completed | Total | Not started | construction | Completed | sale2 | |
| 2023 | |||||||||
| December | 654 | 96 | 280 | 278 | 449 | 99 | 269 | 81 | X |
| 2024 | |||||||||
| January | 664 | 119 | 267 | 278 | 461 | 98 | 280 | 83 | X |
| February | 643 | 85 | 283 | 275 | 465 | 94 | 283 | 88 | X |
| March | 683 | 91 | 258 | 334 | 466 | 91 | 286 | 89 | X |
| April | 736 | 108 | 246 | 382 | 464 | 89 | 284 | 91 | X |
| May | 672 | 86 | 243 | 343 | 468 | 92 | 282 | 94 | X |
| June | 672 | 92 | 238 | 342 | 468 | 89 | 280 | 99 | X |
| July | 707 | 104 | 258 | 345 | 464 | 93 | 268 | 103 | X |
| August | 691 | 86 | 217 | 388 | 471 | 94 | 271 | 106 | X |
| September (r) | 726 | 106 | 243 | 377 | 473 | 95 | 271 | 107 | X |
| October (r) | 615 | 89 | 203 | 323 | 481 | 97 | 273 | 111 | X |
| November (r) | 674 | 79 | 230 | 365 | 488 | 101 | 270 | 117 | X |
| December (p) | 698 | 95 | 275 | 328 | 494 | 108 | 268 | 118 | X |
| . Average RSE (%) 3 | 11 | 15 | 12 | 12 | 5 | 9 | 5 | 8 | X |
Table 3b - Not seasonally adjusted
| Sold during period | For sale at end of period | Median | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Period | Under | Under | months for | ||||||
| Total | Not started | construction | Completed | Total | Not started | construction | Completed | sale2 | |
| 2023 Annual | 666 | 103 | 285 | 278 | 450 | 95 | 269 | 87 | 2.5 |
| 2024 Annual (p) | 683 | 96 | 246 | 341 | 496 | 104 | 267 | 124 | 2.8 |
| . RSE (%) | 3 | 14 | 8 | 6 | 5 | 9 | 5 | 8 | 8 |
| 2023 | |||||||||
| December | 49 | 7 | 18 | 25 | 450 | 95 | 269 | 87 | 2.5 |
| 2024 | |||||||||
| January | 58 | 11 | 22 | 25 | 458 | 97 | 276 | 85 | 2.7 |
| February | 58 | 9 | 25 | 25 | 457 | 93 | 273 | 90 | 2.5 |
| March | 65 | 9 | 24 | 32 | 455 | 92 | 276 | 87 | 2.8 |
| April | 65 | 11 | 22 | 32 | 458 | 88 | 281 | 88 | 2.3 |
| May | 61 | 8 | 23 | 30 | 466 | 96 | 281 | 89 | 2.4 |
| June | 58 | 7 | 21 | 29 | 468 | 89 | 284 | 94 | 2.1 |
| July | 61 | 9 | 23 | 28 | 467 | 92 | 275 | 99 | 2.2 |
| August | 56 | 7 | 18 | 31 | 474 | 94 | 276 | 104 | 2.2 |
| September (r) | 58 | 8 | 20 | 30 | 474 | 92 | 276 | 106 | 2.5 |
| October (r) | 45 | 6 | 15 | 24 | 492 | 99 | 279 | 113 | 2.4 |
| November (r) | 46 | 5 | 15 | 26 | 495 | 98 | 275 | 122 | 2.5 |
| December (p) | 52 | 6 | 17 | 28 | 496 | 104 | 267 | 124 | 2.8 |
| . Average RSE (%) 3 | 11 | 15 | 12 | 12 | 5 | 9 | 5 | 8 | 8 |
p Preliminary
r Revised
S Does not meet publication standards because tests for identifiable and stable seasonality do not meet reliability standards
X Not applicable
1 Seasonally-adjusted houses sold are published at annual rates
2 Median number of months for sale since completion
3 Average relative standard error for the latest 6-month period
Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, January 27, 2025. Additional information on the survey methodology may be found at <www.census.gov/construction/soc/methodology.html>.