New Home Sales Rise

New Home Sales for December increased to a 329,000 annual pace, following a revised 280,000 pace in November. Over the year New Home Sales are down 7.6% from 356,000 in December of 2009. The median sales price was $241,500 and the average sales price was $291,400. The estimate of new houses for sale at the end of December was 190,000, representing a supply of 6.9 months at the current sales rate.

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