Sales of new single-family homes fell 2.2% in December, ending the worst year on record for the real estate industry dating back to 1963. And 30-year fixed mortgage rates jumped to 3.98% from a record-low 3.88% for the week ending Jan. 26, mostly because housing activity has picked up somewhat in the first month of 2012.
The Commerce Department said Thursday that 302,000 new homes were sold in 2011, 6.2% below the 323,000 new homes sold the year before.
On a seasonally adjusted annual rate basis, the number of new homes sold in December was 307,000, a decline of 2.2% from the previous month and 7.3% below the number sold in December a year ago.
The median sales prices of new homes sold in December was $210,300; the average sales price was $266,000. And based on government estimates, there is a supply of 6.1 months worth of homes for sale at the current sales rate.
Source: USA Today “December new home sales fall, 30 year mortgages rise” January 26, 2012
