For Release 10:00 A.M. EDT, June 2, 1999 CB99-98 APRIL 1999 NEW HOUSING SALES AT ANNUAL RATE OF 978,000 Sales of new one-family houses in April 1999 were at a seasonally adjusted annual rate of 978,000 according to estimates released today by the U.S. Department of Commerce's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is 9 (+/-9) percent above the revised March rate of 896,000 and 11 (+/-10) percent above the April 1998 rate of 880,000. The median sales price of new houses sold in April 1999 was $159,500; the mean sales price was $193,100. At the end of April, the seasonally adjusted estimate of new houses for sale was 301,000. This represents a supply of 3.7 months at the current sales rate. Through April of this year, there were 323,000 houses sold compared with 303,000 sold during the same period last year. This is an increase of 7 (+/-6) percent. New Home Sales data for May 1999 will be released on June 29, 1999, at 10:00 A.M. EDT. EXPLANATORY NOTES These statistics are estimated from sample surveys. They are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated average relative standard errors of the preliminary data are shown in the tables. Whenever a statement such as "3 (+/-4) percent above" appears in the text, this indicates the range (from -1 percent to +7 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range contains zero, it is uncertain whether there was an increase or decrease; that is, the change is not statistically significant. The January 1999 issue of CURRENT CONSTRUCTION REPORTS, C25/99-1 includes explanations of confidence intervals and sampling variability. Changes in seasonally adjusted statistics often show irregular movement. It takes 4 months to establish a trend for new houses sold. On average, the preliminary seasonally adjusted estimate of total sales is revised +/- 3 percent. Changes in sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical characteristics. TABLE 1A. NEW ONE-FAMILY HOUSES SOLD: APRIL 1999 United North- Mid- Period States east west South West Seasonally adjusted annual rate 1998 - April 880 89 155 413 222 May 893 97 145 380 271 June 909 75 167 427 239 July 883 72 156 420 235 August 836 74 157 370 234 September 861 77 178 385 221 October 903 76 176 393 259 November 985 91 161 438 295 December 958 84 177 438 259 1999 - January(r) 908 83 149 408 268 February(r) 903 83 178 429 214 March(r) 896 76 158 399 263 APRIL(p) 978 89 211 429 249 AVG. RSE(%) 4 16 13 6 6 Not seasonally adjusted 1997 804 78 140 363 223 1998 886 81 164 398 243 AVG. RSE(%) 2 6 7 3 4 1998 First 4 months 303 29 60 133 82 1999 First 4 months 323 27 61 146 89 AVG. RSE(%) 2 9 7 4 3 1998 - April 82 8 16 37 22 1999 - January(r) 67 5 10 32 20 February(r) 78 8 14 37 19 March(r) 87 6 16 38 27 APRIL(p) 91 8 21 39 23 AVG. RSE(%) 4 16 13 6 6 Number of houses in thousands. (p) Preliminary. (r) Revised. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. YTD - Avg. Relative Standard Error for the current period and the same period last year. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). TABLE 1B. NEW ONE-FAMILY HOUSES FOR SALE AT END OF PERIOD AND MONTHS SUPPLY AT CURRENT SALES RATE: APRIL 1999 Seasonally adjusted Not Seasonally adjusted Houses Months Houses for sale Months for supply supply Period sale (1) (1) United States United North- Mid- South West States east west 1997 (X) (X) 287 26 65 127 69 (X) 1998 (X) (X) 300 28 63 142 68 (X) AVG. RSE(%) (X) (X) 3 10 6 4 6 (X) 1998 - April 287 3.9 286 24 61 133 68 3.5 May 287 3.9 284 23 61 134 65 3.5 June 286 3.8 287 23 63 134 68 3.4 July 283 4.0 284 23 61 130 70 3.8 August 285 4.2 283 23 60 131 69 3.8 September 289 4.1 291 24 61 137 69 4.3 October 293 4.0 296 25 64 138 69 4.3 November 292 3.7 292 25 62 137 67 4.2 December 295 3.8 300 28 63 142 68 4.9 1999 - January(r) 295 4.0 294 27 61 140 66 4.4 February(r) 297 3.9 291 24 60 142 66 3.8 March(r) 301 4.1 298 25 61 146 67 3.4 APRIL(p) 301 3.7 301 25 60 151 65 3.3 AVG. RSE(%) 3 5 3 9 8 5 5 5 Number of houses in thousands. (p) Preliminary. (r) Revised. (X) Not applicable. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). (1) Ratio of houses for sale to houses sold. Seasonally adjusted ratio derived from unadjusted ratio. TABLE 2. MEDIAN AND AVERAGE SALES PRICE: APRIL 1999 Period Median Average 1997 146,000 176,200 1998 152,500 181,900 AVG. RSE(%) 2 2 1998 - April 148,000 176,700 1999 - January(r) 152,500 182,800 February(r) 157,600 187,900 March(r) 154,800 186,300 APRIL(p) 159,500 193,100 AVG. RSE(%) 3 3 Dollars. Includes value of improved lot. (p) Preliminary. (r) Revised. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). Questions or comments regarding these data may be directed to Dale R. Jacobson, Residential Construction Branch, Manufacturing and Construction Division, Bureau of the Census. Telephone: (301) 457-1321. Source: Current Construction Reports, Series C25, "New One-Family Houses Sold." C25 reports are available from the Government Printing Office (GPO). Annual subscription: $28.00 The following data will appear in Tables 3 through 8 of this month's Current Construction Report. TABLE 3. HOUSES SOLD AND FOR SALE, BY STAGE OF CONSTRUCTION (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING) SOLD DURING PERIOD UNDER CONSTRUC- TOTAL COMPLETED TION NOT STARTED 1995................. 667 238 223 205 1996................. 757 275 254 228 1997................. 804 236 295 273 1998................. 886 228 335 323 MONTHLY DATA 1996: JANUARY...... 54 19 17 18 FEBRUARY..... 68 21 21 26 MARCH........ 70 22 23 24 APRIL........ 70 22 27 22 MAY.......... 69 25 24 20 JUNE......... 65 24 21 20 JULY......... 66 27 21 18 AUGUST....... 73 26 27 20 SEPTEMBER.... 62 23 22 17 OCTOBER...... 56 21 19 15 NOVEMBER..... 54 20 17 17 DECEMBER..... 51 20 15 17 1997: JANUARY...... 61 22 20 19 FEBRUARY..... 69 23 23 23 MARCH........ 81 25 29 27 APRIL........ 70 21 24 26 MAY.......... 71 23 24 24 JUNE......... 71 19 30 22 JULY......... 69 20 26 22 AUGUST....... 72 19 28 25 SEPTEMBER.... 67 18 26 22 OCTOBER...... 62 18 24 20 NOVEMBER..... 61 18 24 19 DECEMBER..... 51 14 17 19 1998: JANUARY...... 64 18 22 25 FEBRUARY..... 75 19 26 30 MARCH........ 81 20 30 31 APRIL........ 82 20 32 30 MAY.......... 82 17 34 31 JUNE......... 83 21 31 31 JULY......... 75 21 30 24 AUGUST....... 75 19 32 25 SEPTEMBER.... 68 18 26 25 OCTOBER...... 69 19 28 22 NOVEMBER..... 70 20 26 23 DECEMBER..... 61 17 23 21 1999: JANUARY\r.... 67 14 27 26 FEBRURAY\r... 78 19 30 29 MARCH\r...... 87 19 36 32 APRIL\p...... 91 22 37 32 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 2 4 3 5 MONTHLY (PERCENT).... 4 7 5 10 See footnotes at end of table. TABLE 3. HOUSES SOLD AND FOR SALE, BY STAGE OF CONSTRUCTION - CONTINUED (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING) FOR SALE AT END OF PERIOD UNDER CONSTRUC- TOTAL COMPLETED TION NOT STARTED 1995................. 374 123 199 52 1996................. 326 101 185 40 1997................. 287 92 161 34 1998................. 300 72 185 43 MONTHLY DATA 1996: JANUARY...... 370 122 196 51 FEBRUARY..... 362 120 192 50 MARCH........ 362 120 189 53 APRIL........ 366 119 195 51 MAY.......... 360 114 195 52 JUNE......... 355 113 193 48 JULY......... 351 111 191 49 AUGUST....... 342 106 192 44 SEPTEMBER.... 332 103 185 43 OCTOBER...... 332 103 186 43 NOVEMBER..... 330 101 189 40 DECEMBER..... 326 101 185 40 1997: JANUARY...... 309 97 174 38 FEBRUARY..... 296 95 165 37 MARCH........ 284 91 158 35 APRIL........ 289 91 165 33 MAY.......... 286 90 163 33 JUNE......... 288 89 163 36 JULY......... 289 88 165 36 AUGUST....... 284 87 163 34 SEPTEMBER.... 285 90 164 31 OCTOBER...... 287 91 163 33 NOVEMBER..... 281 92 158 31 DECEMBER..... 287 92 161 34 1998: JANUARY...... 282 86 161 35 FEBRUARY..... 277 85 157 35 MARCH........ 281 81 164 36 APRIL........ 286 80 168 38 MAY.......... 284 81 166 37 JUNE......... 287 77 173 37 JULY......... 284 75 171 39 AUGUST....... 283 74 172 37 SEPTEMBER.... 291 75 177 39 OCTOBER...... 296 77 181 39 NOVEMBER..... 292 73 185 34 DECEMBER..... 300 72 185 43 1999: JANUARY\r.... 294 72 182 39 FEBRUARY\r... 291 70 182 39 MARCH\r...... 298 71 187 40 APRIL\p...... 301 71 182 48 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 3 4 3 6 MONTHLY (PERCENT).... 3 5 4 4 p Preliminary. r Revised. TABLE 4. HOUSES SOLD BY SALES PRICE (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING.) NUMBER OF HOUSES/1 PERIOD 80000 100000 120000 150000 200000 UNDER TO TO TO TO AND TOTAL 80000 99999 119999 149999 199999 OVER 1995................ 667 58 101 99 144 127 138 1996................ 757 59 104 101 159 160 175 1997................ 804 51 93 103 173 177 207 1998................ 886 41 91 112 183 208 251 MONTHLY DATA 1996: JANUARY..... 54 4 10 8 11 10 11 FEBRUARY.... 68 6 10 9 14 14 15 MARCH....... 70 6 10 9 15 14 15 APRIL....... 70 5 11 8 14 16 15 MAY......... 69 6 9 10 15 15 15 JUNE........ 65 5 8 9 14 14 15 JULY........ 66 4 8 9 14 15 15 AUGUST...... 73 6 11 11 15 15 16 SEPTEMBER... 62 7 9 8 13 10 16 OCTOBER..... 56 4 7 7 12 12 13 NOVEMBER.... 54 4 7 7 12 11 14 DECEMBER.... 51 4 7 6 10 11 13 1997: JANUARY..... 61 3 8 8 13 13 15 FEBRUARY.... 69 5 9 9 15 14 18 MARCH....... 81 7 9 12 15 19 20 APRIL....... 70 5 7 9 14 16 19 MAY......... 71 4 9 9 15 15 17 JUNE........ 71 4 9 9 17 14 19 JULY........ 69 4 8 9 15 15 18 AUGUST...... 72 5 9 10 15 17 17 SEPTEMBER... 67 4 8 8 14 15 17 OCTOBER..... 62 3 7 9 14 13 15 NOVEMBER.... 61 4 8 7 13 13 16 DECEMBER.... 51 4 5 6 12 11 13 1998: JANUARY..... 64 3 8 9 13 14 17 FEBRUARY.... 75 3 8 11 13 18 23 MARCH....... 81 3 8 10 17 20 22 APRIL....... 82 4 9 11 19 18 22 MAY......... 82 4 9 11 15 20 23 JUNE........ 83 5 10 10 18 19 21 JULY........ 75 5 8 10 15 16 21 AUGUST...... 75 4 7 9 16 17 23 SEPTEMBER... 68 2 7 8 14 18 18 OCTOBER..... 69 3 7 9 13 16 21 NOVEMBER.... 70 3 6 9 16 17 19 DECEMBER.... 61 3 5 7 14 15 17 1999: JANUARY\r... 67 3 7 7 15 17 18 FEBRUARY\r.. 78 3 6 10 17 17 25 MARCH\r..... 87 3 8 12 18 21 25 APRIL\p..... 91 3 10 9 19 21 28 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 7 5 6 5 5 5 MONTHLY (PERCENT)... 4 20 15 11 9 8 8 See footnotes at end of table. TABLE 4. HOUSES SOLD BY SALES PRICE - CONTINUED (COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. PERCENTS COMPUTED FROM UNROUNDED FIGURES) PERCENT DISTRIBUTION/2 PERIOD 80000 100000 120000 150000 200000 UNDER TO TO TO TO AND 80000 99999 119999 149999 199999 OVER 1995................ 9 15 15 22 19 21 1996................ 8 14 13 21 21 23 1997................ 6 12 13 21 22 26 1998................ 5 10 13 21 23 28 MONTHLY DATA 1996: JANUARY..... 8 18 15 20 19 20 FEBRUARY.... 9 14 14 20 20 22 MARCH....... 8 14 13 22 20 22 APRIL....... 7 16 11 21 23 22 MAY......... 9 12 14 22 22 21 JUNE........ 8 13 14 22 22 22 JULY........ 7 12 14 22 23 23 AUGUST...... 8 14 15 21 20 21 SEPTEMBER... 11 15 12 20 17 26 OCTOBER..... 7 12 13 22 22 24 NOVEMBER.... 7 14 12 22 20 25 DECEMBER.... 7 13 13 20 22 26 1997: JANUARY..... 6 13 13 22 21 25 FEBRUARY.... 7 13 13 21 20 26 MARCH....... 8 11 14 18 23 25 APRIL....... 7 10 13 20 23 28 MAY......... 6 13 13 22 22 24 JUNE........ 5 12 12 24 20 27 JULY........ 6 12 13 21 22 26 AUGUST...... 6 13 14 21 24 23 SEPTEMBER... 6 12 12 21 23 25 OCTOBER..... 5 11 15 23 21 24 NOVEMBER.... 6 13 12 22 22 25 DECEMBER.... 7 10 11 23 23 25 1998: JANUARY..... 4 12 14 21 22 27 FEBRUARY.... 4 10 15 17 23 31 MARCH....... 4 10 12 21 25 27 APRIL....... 5 11 13 23 22 26 MAY......... 5 11 13 19 24 28 JUNE........ 6 12 12 22 22 26 JULY........ 6 10 14 20 21 28 AUGUST...... 5 10 12 21 22 30 SEPTEMBER... 3 10 12 21 27 26 OCTOBER..... 5 11 13 18 23 30 NOVEMBER.... 4 9 12 23 24 27 DECEMBER.... 6 8 11 23 24 28 1999: JANUARY\r... 4 11 11 23 25 27 FEBRUARY\r.. 5 8 13 21 22 32 MARCH\r..... 3 9 14 21 24 29 APRIL\p..... 4 12 10 21 23 31 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 7 5 6 5 5 5 MONTHLY (PERCENT)... 20 14 10 8 7 7 See footnotes at end of table. TABLE 4. HOUSES SOLD BY SALES PRICE - CONTINUED (IN DOLLARS) MEDIAN AVERAGE PERIOD SALES SALES PRICE PRICE 1995................ 133,900 158,700 1996................ 140,000 166,400 1997................ 146,000 176,200 1998................ 152,500 181,900 MONTHLY DATA 1996: JANUARY..... 131,900 155,300 FEBRUARY.... 139,400 163,700 MARCH....... 137,000 162,100 APRIL....... 140,000 170,000 MAY......... 136,400 163,300 JUNE........ 140,000 166,500 JULY........ 144,200 168,400 AUGUST...... 137,000 159,700 SEPTEMBER... 139,000 167,400 OCTOBER..... 143,800 168,400 NOVEMBER.... 143,500 172,000 DECEMBER.... 144,900 171,800 1997: JANUARY..... 145,000 171,900 FEBRUARY.... 143,000 171,100 MARCH....... 148,000 172,700 APRIL....... 150,000 179,500 MAY......... 141,000 170,700 JUNE........ 145,000 179,400 JULY........ 145,900 175,500 AUGUST...... 144,000 170,700 SEPTEMBER... 146,300 177,500 OCTOBER..... 141,500 172,900 NOVEMBER.... 145,000 175,400 DECEMBER.... 145,900 175,800 1998: JANUARY..... 148,000 178,600 FEBRUARY.... 156,000 181,600 MARCH....... 152,700 178,500 APRIL....... 148,000 176,700 MAY......... 153,200 183,500 JUNE........ 148,000 175,900 JULY........ 149,900 179,800 AUGUST...... 154,900 186,500 SEPTEMBER... 155,000 182,700 OCTOBER..... 154,500 182,800 NOVEMBER.... 151,000 178,600 DECEMBER.... 152,500 183,300 1999: JANUARY\r... 152,500 182,800 FEBRAURY\r.. 157,600 187,900 MARCH\r..... 154,800 186,300 APRIL\p..... 159,500 193,100 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 2 MONTHLY (PERCENT)... 3 3 p Preliminary. r Revised. 1 Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported. 2 Total equals 100 percent. Note: The sales price includes the price of the developed lot. TABLE 5. CURRENT SEASONAL FACTORS NEW HOUSES SOLD MONTH AND YEAR UNITED STATES IMPLICIT FACTOR North- Mid- South West east west 1999: JANUARY\r............. 89.2 74.5 80.0 95.0 89.9 FEBRUARY\r............ 103.2 111.2 97.3 102.5 106.3 MARCH\r............... 116.5 99.4 122.2 114.3 121.3 APRIL\p............... 111.3 109.2 117.1 109.0 111.1 MEDIAN MONTHS FROM START TO.. MONTH AND YEAR MONTHS NEW SUPPLY AT HOUSES CURRENT END OF FOR SALE SALES RATE SALE MONTH 1999: JANUARY\r............. 99.6 109.8 115.3 107.4 FEBRUARY\r............ 98.1 95.4 111.3 110.3 MARCH\r............... 99.0 83.3 100.6 111.0 APRIL\p............... 99.8 88.5 105.7 106.8 p Preliminary. r Revised. TABLE 6. MEDIAN NUMBER OF MONTHS ON SALES MARKET (HOUSES NOT STARTED ARE EXCLUDED. MEDIANS ARE COMPUTED FROM UNROUNDED FIGURES) HOUSES SOLD HOUSES FOR SALE MEASURED MEASURED FROM MEASURED FROM FROM MONTH OF START MONTH OF START MONTH OF COMPLETION NOT NOT NOT SEASONALLY SEASONALLY SEASONALLY SEASONALLY SEASONALLY ADJUSTED ADJUSTED ADJUSTED ADJUSTED ADJUSTED ANNUAL DATA 1995............... 4.3 (X) 5.3 (X) 5.5 1996............... 4.2 (X) 4.8 (X) 4.6 1997............... 3.7 (X) 4.9 (X) 4.3 1998............... 3.5 (X) 4.0 (X) 5.0 MONTHLY DATA 1996: JANUARY...... 4.7 4.0 5.5 5.2 5.7 FEBRUARY.... 4.5 4.0 5.7 5.0 5.7 MARCH....... 4.4 4.3 5.8 5.3 5.5 APRIL....... 4.2 4.1 5.6 5.3 5.7 MAY......... 4.4 4.5 5.4 5.3 5.8 JUNE........ 4.3 4.8 4.9 5.2 5.4 JULY........ 4.2 4.4 4.5 4.9 4.9 AUGUST...... 3.4 3.6 4.4 4.8 5.0 SEPTEMBER... 4.1 4.6 4.5 4.8 4.8 OCTOBER..... 4.0 4.4 4.5 4.7 4.4 NOVEMBER.... 4.3 4.0 4.5 4.7 4.6 DECEMBER.... 4.4 4.2 4.8 4.8 4.6 1997: JANUARY..... 4.8 4.2 5.1 4.9 4.9 FEBRUARY.... 4.5 4.1 5.3 4.8 4.8 MARCH....... 3.9 3.8 5.4 4.9 4.8 APRIL....... 4.1 4.2 5.2 4.8 4.6 MAY......... 3.8 3.8 4.7 4.6 4.7 JUNE........ 2.7 3.0 4.4 4.7 4.6 JULY........ 3.4 3.7 4.3 4.7 4.6 AUGUST...... 3.1 3.4 4.4 4.8 4.2 SEPTEMBER... 3.2 3.5 4.4 4.7 4.2 OCTOBER..... 3.4 3.6 4.4 4.7 4.0 NOVEMBER.... 3.8 3.7 4.6 4.8 3.9 DECEMBER.... 3.8 3.6 4.9 4.9 4.3 1998: JANUARY..... 4.3 3.6 5.1 4.8 4.9 FEBRUARY.... 4.2 3.8 5.3 4.8 5.3 MARCH....... 3.6 3.6 5.1 4.6 5.8 APRIL....... 3.9 3.8 4.5 4.2 5.9 MAY......... 2.7 2.7 4.2 4.2 5.5 JUNE........ 3.2 3.5 3.8 4.1 5.3 JULY........ 3.5 3.6 3.9 4.3 5.1 AUGUST...... 3.1 3.4 4.0 4.3 5.2 SEPTEMBER... 3.5 3.9 3.9 4.2 5.2 OCTOBER..... 3.1 3.3 4.0 4.2 4.8 NOVEMBER.... 3.4 3.4 3.9 4.0 5.0 DECEMBER.... 3.8 3.6 4.0 4.0 5.0 1999: JANUARY\r... 3.3 2.8 4.3 4.0 5.1 FEBRUARY\r.. 4.0 3.6 4.4 4.0 5.1 MARCH\r..... 3.4 3.4 4.3 3.9 5.1 APRIL\p..... 3.7 3.5 4.2 3.9 4.8 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 3 (X) 5 (X) 7 MONTHLY (PERCENT)... 9 9 6 6 14 p Preliminary. r Revised. X Not applicable. Table 7. Chain-Type Annual-Weighted Price Index (Fisher Ideal) of New One-Family Houses Sold Including Value of Lot (1992=100.0.) Year Annual First Second Third Fourth quarter quarter quarter quarter Northeast Midwest South West 1979 59.5 56.2 59.2 60.1 62.6 47.1 64.4 63.6 59.6 1980 65.4 63.8 64.8 66.4 66.5 51.2 67.6 70.7 66.1 1981 70.3 69.3 70.2 70.3 71.3 56.0 72.3 76.3 70.1 1982 73.2 73.4 73.5 73.2 72.8 58.4 75.5 80.3 71.5 1983 75.3 74.6 74.8 76.0 75.8 61.7 75.0 82.6 73.8 1984 78.1 76.2 77.8 78.7 79.7 67.1 79.2 84.7 76.2 1985 80.1 79.9 79.8 79.6 81.2 73.6 78.5 86.6 77.2 1986 83.8 81.8 83.8 85.2 84.5 84.8 83.0 88.9 78.7 1987 88.7 86.8 88.3 89.8 90.1 96.8 88.6 91.8 82.6 1988 92.1 91.3 91.7 92.7 92.7 99.8 92.7 94.0 87.2 1989 95.8 94.5 96.4 96.3 95.9 102.1 94.8 97.0 92.9 1990 97.4 97.8 96.7 98.0 96.9 98.1 95.4 97.3 98.3 1991 98.6 97.2 99.3 100.0 97.8 96.2 97.8 98.9 99.2 1992 100.0 98.9 99.7 100.1 101.3 100.0 100.0 100.0 100.0 1993 104.5 101.9 105.3 105.9 104.8 98.0 107.0 104.7 103.8 1994 109.6 108.1 109.7 110.0 110.5 100.0 112.8 108.4 111.1 1995 112.5 111.2 112.4 112.8 113.7 103.0 116.5 111.7 113.2 1996 114.9 115.3 114.5 115.6 115.1 104.7 119.3 113.0 117.2 1997 118.2 117.1 119.3 118.9 119.4 107.5 123.3 115.8 120.8 1998 121.0 121.0 121.0 122.3 123.8 110.9 125.4 118.7 123.6 1999 127.2/r r Revised. Table 7A. Fixed Weighted Price Index (Laspeyres) of New One-Family Houses Sold, Including Value of Lot (1992=100.0.) Index based on kinds of houses sold in 1992 Year Annual First Second Third Fourth quarter quarter quarter quarter Northeast Midwest South West 1977 46.8 44.6 46.8 47.7 50.5 36.4 50.2 49.8 43.7 1978 53.7 51.3 53.2 55.4 57.1 39.8 57.6 55.4 52.2 1979 61.8 58.8 62.1 63.1 65.5 45.5 64.4 63.7 60.9 1980 68.1 66.7 67.7 69.4 69.8 50.0 67.4 71.2 68.2 1981 73.5 73.0 74.0 74.0 74.7 54.2 73.6 77.4 72.4 1982 75.2 76.4 76.0 75.3 74.7 56.2 75.8 79.8 73.3 1983 76.8 76.5 76.7 77.9 77.9 59.7 75.6 82.0 74.7 1984 79.9 78.6 80.3 81.1 81.9 64.8 80.1 84.7 77.4 1985 80.9 81.6 81.1 80.7 82.1 71.3 78.8 86.4 77.9 1986 84.1 82.7 84.7 86.0 85.2 81.8 83.2 89.0 79.9 1987 88.6 87.4 88.8 90.2 90.4 92.9 88.8 92.2 84.1 1988 91.9 91.7 92.1 93.1 93.0 95.2 92.8 94.3 88.6 1989 95.6 94.8 96.6 96.6 96.2 98.0 94.9 96.9 94.2 1990 97.4 98.2 97.2 98.6 97.5 96.0 95.7 97.2 98.8 1991 98.7 97.8 99.9 100.6 98.3 92.9 98.2 99.0 99.4 1992 100.0 99.3 100.1 100.3 101.0 100.0 100.0 100.0 100.0 1993 104.3 101.8 105.1 105.6 104.6 97.1 106.7 104.7 103.6 1994 109.3 108.0 109.6 109.9 110.2 98.4 112.0 108.5 110.9 1995 112.4 110.8 111.9 112.2 113.0 100.7 116.3 111.9 112.7 1996 114.5 114.7 113.8 115.0 114.6 104.1 118.6 112.6 116.8 1997 118.4 116.4 118.6 118.2 118.7 106.6 122.9 116.5 120.4 1998 121.4 120.3 120.3 121.6 123.0 110.6 124.6 120.4 122.9 1999 126.5/r r Revised. Table 8. Average Sales Price of Kinds of New One-Family Houses Sold in 1992 Compared With That of Houses Actually Sold Based on the Laspeyres Price Index (Prices in dollars) Period Average sales price of kinds of houses sold in 1992 Average sales price (estimated from price index) of houses actually sold Price Period-to-period Price Period-to-period percent change\1 percent change ANNUAL DATA 1977 67,400 (X) 54,200 (X) 1978 77,400 14.8 62,500 15.3 1979 89,100 14.9 71,800 14.9 1980 98,100 10.3 76,400 6.4 1981 105,900 7.9 83,000 8.6 1982 108,400 2.4 83,900 1.1 1983 110,700 2.1 89,800 7.0 1984 115,100 4.1 97,600 8.7 1985 116,600 1.2 100,800 3.3 1986 121,200 3.9 111,900 11.0 1987 127,700 5.3 127,200 13.7 1988 132,400 3.8 138,300 8.7 1989 137,800 4.0 148,800 7.6 1990 140,400 1.9 149,800 0.7 1991 142,200 1.3 147,200 -1.7 1992 144,100 1.4 144,100 -2.1 1993 150,300 4.3 147,700 2.5 1994 157,500 4.7 154,500 4.6 1995 161,900 2.8 158,700 2.7 1996 165,100 2.0 166,400 4.9 1997 170,600 3.4 176,200 5.9 1998 175,000 2.6 181,300 2.9 QUARTERLY DATA 1977: First quarter 64,200 (X) 51,600 (X) Second quarter 67,400 5.0 54,300 5.2 Third quarter 68,700 1.9 54,000 -0.6 Fourth quarter 72,700 5.9 57,500 6.5 1978: First quarter 73,900 1.7 59,300 3.1 Second quarter 76,700 3.8 61,600 3.9 Third quarter 79,800 4.0 63,500 3.2 Fourth quarter 82,200 3.1 66,400 4.4 1979: First quarter 84,800 3.1 68,300 2.9 Second quarter 89,500 5.6 72,400 6.0 Third quarter 91,000 1.6 74,200 2.5 Fourth quarter 94,600 3.8 72,700 -2.0 1980: First quarter 96,200 1.8 73,600 1.2 Second quarter 97,600 1.5 74,400 1.1 Third quarter 100,100 2.5 77,500 4.2 Fourth quarter 100,600 0.5 80,000 3.2 1981: First quarter 105,200 4.5 80,900 1.1 Second quarter 106,600 1.3 84,300 4.2 Third quarter 106,700 0.1 83,800 -0.6 Fourth quarter 107,600 0.9 83,700 -0.1 1982: First quarter 110,000 2.2 81,200 -3.0 Second quarter 109,500 -0.4 85,700 5.5 Third quarter 108,600 -0.9 83,900 -2.1 Fourth quarter 107,700 -0.8 84,600 0.8 1983: First quarter 110,200 2.3 86,700 2.5 Second quarter 110,600 0.4 89,100 1.8 Third quarter 112,300 1.6 92,500 3.8 Fourth quarter 112,200 -0.1 90,800 -1.8 1984: First quarter 113,200 0.9 94,700 4.3 Second quarter 115,700 2.2 99,200 4.8 Third quarter 116,900 1.0 98,500 -0.7 Fourth quarter 118,000 0.9 97,800 -0.7 Table 8. Average Sales Price of Kinds of New One-Family Houses Sold in 1992 Compared With That of Houses Actually Sold (In dollars) - continued Period Average sales price of kinds of houses sold in 1992 Average sales price (estimated from price index) of houses actually sold Price Period-to-period Price Period-to-period percent change\1 percent change 1985: First quarter 117,600 -0.4 98,500 0.7 Second quarter 116,900 -0.6 100,500 2.0 Third quarter 116,300 -0.5 100,500 0.0 Fourth quarter 118,300 1.7 103,800 3.3 1986: First quarter 119,100 0.7 106,300 2.3 Second quarter 122,100 2.5 112,300 5.4 Third quarter 123,900 1.4 114,400 2.1 Fourth quarter 122,700 -0.9 115,600 1.0 1987: First quarter 125,900 2.6 120,800 4.5 Second quarter 128,000 1.6 126,100 4.4 Third quarter 129,900 1.5 129,900 3.0 Fourth quarter 130,300 0.3 133,500 2.8 1988: First quarter 132,100 1.4 137,900 3.3 Second quarter 132,700 0.5 134,800 -2.2 Third quarter 134,100 1.0 141,500 5.0 Fourth quarter 134,000 -0.1 140,400 -0.8 1989: First quarter 136,700 2.0 144,300 2.8 Second quarter 139,100 1.8 146,800 1.7 Third quarter 139,200 0.0 150,200 2.3 Fourth quarter 138,600 -0.4 151,200 0.7 1990: First quarter 141,500 2.1 149,500 -1.1 Second quarter 140,100 -1.0 151,200 1.1 Third quarter 142,200 1.5 145,500 -3.8 Fourth quarter 140,500 -1.1 150,100 3.2 1991: First quarter 140,900 0.2 151,100 0.7 Second quarter 144,000 2.2 148,200 -1.9 Third quarter 145,000 0.7 145,400 -1.9 Fourth quarter 141,700 -2.3 144,400 -0.7 1992: First quarter 143,100 1.0 144,500 0.1 Second quarter 144,200 0.8 145,300 0.6 Third quarter 144,500 0.2 141,700 -2.5 Fourth quarter 145,600 0.8 147,200 3.9 1993: First quarter 146,800 0.8 144,700 -1.7 Second quarter 151,400 3.2 148,900 2.9 Third quarter 152,100 0.5 148,000 -0.6 Fourth quarter 150,800 -0.9 148,300 0.2 1994: First quarter 155,700 3.3 153,600 3.6 Second quarter 158,000 1.5 154,200 0.4 Third quarter 158,300 0.2 152,800 -0.9 Fourth quarter 158,800 0.3 156,100 2.2 1995: First quarter 159,600 0.5 153,500 -1.7 Second quarter 161,300 1.1 158,900 3.5 Third quarter 161,600 0.2 157,700 -0.8 Fourth quarter 162,800 0.7 160,900 2.0 1996: First quarter 165,200 1.5 161,100 0.1 Second quarter 164,000 -0.7 166,000 3.0 Third quarter 165,800 1.1 164,000 -1.2 Fourth quarter 165,100 -0.4 171,000 4.3 1997: First quarter 167,800 1.6 172,200 0.7 Second quarter 170,800 1.8 177,200 2.9 Third quarter 170,300 -0.3 174,700 -1.4 Fourth quarter 171,100 0.5 175,400 0.4 1998: First quarter 173,400 1.3 180,000 2.6 Second quarter 173,400 0.0 178,800 -0.7 Third quarter 175,200 1.1 184,300 3.1 Fourth quarter 176,800 0.9 181,500 -1.5 1999: First quarter 182,300/r 3.1/r 186,000 2.5 p Preliminary. r Revised. X Not applicable. 1 Derived from unrounded figures. Questions or comments regarding these data may be directed to Dale R. Jacobson, Residential Construction Branch, Manufacturing and Construction Division, Bureau of the Census. Telephone: (301) 457-1321. Source: Current Construction Reports, Series C25, "New One-Family Houses Sold." C25 reports are available from the Government Printing Office (GPO). Annual subscription: $28.00