WASHINGTON - Sales of new single-family houses were down 2.2% to a seasonally adjusted annual rate of 307,000 in December, the Commerce Department reported Thursday.

The December rate was below the 321,000 median annual rate projected by economists polled by Thomson Reuters and the revised November rate of 314,000.

New home sales rose in the northeast by 46.7% and in the west by 9%, but they fell in the south by 10.1% and by 3.7% in the midwest.

The median sales price of new houses sold in December fell 2.5% to $210,300, the lowest since October 2010 when it was $204,200, but the average sales price climbed 6.3% to $266,000.

The seasonally adjusted estimate of new houses for sale at the end of November was 157,000, a record low, representing a supply of 6.1 months at the current sales rate.


Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.