Tuesday, February 07, 2012

New Single-Family Home Prices

$225,800: That is the median sales price of new single-family homes sold in 2011. This figure was 16 percent below the 2007 peak of $268,900, after adjusting for inflation. Here is a look at 2011 median prices by region, along with the inflation-adjusted percent change from the year prices peaked...

Northeast: $322,600, down 16% from 2006 peak of $386,100
Midwest: $201,000, down 20% from 2005 peak of $249,800
South: $210,300, down 11% from 2007 peak of $236,200
West: $255,400, down 32% from 2006 peak of $376,800

Nationally, the number of new single-family homes sold in 2011 fell to an all-time low of 302,000 (with data going back to 1963). The 2011 sales figures were at all-time lows in the Northeast and West, and they tied the all-time lows in the Midwest (tied with 2010) and South (tied with 1966).

Source: Census Bureau, New Residential Sales Historical Data

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