Nationally, the median sales price of new single-family houses sold climbed to a record high of $316,200 in 2016. But records were set in only two of the four regions—the Midwest and South.
Northeast: $448,200 in 2016 (not a record)
The Northeast has the highest median sales price for new single-family homes sold. But the 2016 median was less than the $465,400 of 2015 (in 2016 dollars), which is the record high.
Midwest: $284,400 in 2016 (record high)
The median sales price of new single-family homes sold in the Midwest hit a record high of $284,400 in 2016. This was 7 percent above the pre-Great Recession high of $266,600 in 2005, after adjusting for inflation.
South: $284,000 in 2016 (record high)
The median sales price of new single-family homes sold in the South hit a record high of $284,000 in 2016. This was 13 percent above the pre-Great Recession high of $252,000 in 2005, after adjusting for inflation.
West: $381,300 in 2016 (not a record)
The median sales price of new single-family homes sold in the West climbed to $381,300 in 2016. While this is 40 percent greater than the post-Great Recession low of $273,100 in 2011, after adjusting for inflation, it's 5 percent below the record high of $402,000 recorded in 2006.
Overall, 561,000 new single-family houses were sold in 2016. The Northeast accounted for 6 percent of the total, the Midwest 12 percent, and the West 25 percent. The 57 percent majority of new single-family houses sold were in the South.
Source: Census Bureau, 2016 Characteristics of New Housing
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