For Release 10:00 A.M. EST, March 2, 2000 CB00-34 JANUARY 2000 NEW HOUSING SALES AT ANNUAL RATE OF 882,000 Sales of new one-family houses in January 2000 were at a seasonally adjusted annual rate of 882,000 according to estimates released today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 4 (+/-9) percent below the revised December rate of 921,000 and 4 (+/-10) percent below the revised January 1999 rate of 918,000. The median sales price of new houses sold in January 2000 was $154,400; the mean sales price was $194,800. At the end of January, the seasonally adjusted estimate of new houses for sale was 326,000. This represents a supply of 4.5 months at the current sales rate. New Home Sales data for February 2000 will be released on March 29, 2000, at 10:00 A.M. EST. 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 2000 issue of Current Construction Reports, C25/99-1, will include 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. Preliminary new home sales figures are subject to revision due to the survey methodology and definitions used. The survey is primarily based on a sample of houses selected from building permits. Since a "sale" is defined as a deposit taken or sales agreement signed, this can occur prior to a permit being issued. An estimate of these prior sales is included in the sales figure. 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: JANUARY 2000 United North- Mid- Period States east west South West Seasonally adjusted annual rate 1997(r): January 830 107 148 377 197 February 801 96 119 382 204 March 831 91 125 375 240 April 744 83 134 325 202 May 760 83 137 342 198 June 793 71 157 352 213 July 805 66 152 344 243 August 815 73 138 383 221 September 840 71 129 388 252 October 800 72 133 368 227 November 864 85 166 386 227 December 793 76 157 354 205 1998(r): January 872 73 166 413 220 February 866 90 187 348 241 March 836 87 178 354 217 April 866 87 151 401 226 May 887 95 147 374 270 June 923 82 173 433 235 July 876 72 160 408 237 August 846 77 149 378 243 September 864 78 175 382 228 October 893 77 159 399 258 November 995 95 161 447 292 December 949 76 186 434 252 1999(r): January 918 78 166 415 258 February 893 78 173 433 210 March 881 74 154 390 263 April 930 80 173 411 266 May 896 71 173 417 236 June 948 68 172 437 272 July 936 84 174 430 248 August 914 89 190 385 249 September 848 77 153 381 237 October 906 71 198 385 253 November 886 61 185 391 249 December 921 88 150 427 256 2000 - JANUARY(p) 882 93 137 415 238 AVG. RSE(%) 4 19 12 6 7 Not seasonally adjusted 1998 886 81 164 398 243 1999(r) 907 75 173 409 249 AVG. RSE(%) 2 6 7 3 4 1999 - January 67 5 10 32 20 October(r) 69 5 15 29 20 November(r) 63 4 13 28 17 December(r) 59 6 9 28 16 2000 - JANUARY(p) 65 6 8 32 19 AVG. RSE(%) 4 19 12 6 7 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: JANUARY 2000 Seasonally adjusted Not Seasonally adjusted Houses Months Houses for sale Months for supply(r) supply Period sale(r) (1) (1) United States United North- Mid- South West States east west 1998 (X) (X) 300 28 63 142 68 (X) 1999(r) (X) (X) 327 28 67 158 74 (X) AVG. RSE(%) (X) (X) 3 10 6 4 6 (X) 1997 - January 308 4.7 February 301 4.5 March 288 4.1 April 290 4.7 May 287 4.6 June 288 4.4 NOT SEASONALLY ADJUSTED DATA July 289 4.4 FOR 1997 HAVE NOT BEEN REVISED August 287 4.3 September 284 4.2 October 284 4.3 November 281 3.9 December 281 4.4 1998 - January 282 4.0 February 281 3.9 March 284 4.1 April 287 4.0 May 287 3.9 June 286 3.8 NOT SEASONALLY ADJUSTED DATA July 285 4.0 FOR 1998 HAVE NOT BEEN REVISED August 286 4.1 September 289 4.1 October 293 4.0 November 292 3.5 December 294 3.8 1999 - January 295 4.0 294 27 61 140 66 4.4 February 296 3.9 291 24 60 141 66 3.7 March 298 4.1 296 25 60 145 67 3.4 April 301 3.9 299 25 59 148 67 3.4 May 305 4.1 302 25 60 149 68 3.6 June 305 4.0 307 26 60 150 71 3.6 July 306 4.0 305 26 61 147 72 3.8 August 307 4.1 305 26 62 148 70 3.8 September 311 4.5 313 25 62 153 72 4.7 October(r) 314 4.2 316 26 64 155 70 4.6 November(r) 318 4.3 320 28 65 155 71 5.1 December(r) 321 4.3 327 28 67 158 74 5.5 2000 - JANUARY(p) 326 4.5 325 27 69 158 72 5.0 AVG. RSE(%) 3 5 3 11 7 5 4 5 Number of houses in thousands. (p) Preliminary. (r) Revised. (X) Not applicable. (1) Ratio of houses for sale to houses sold. Seasonally adjusted ratio derived from unadjusted ratio. 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). TABLE 2. MEDIAN AND AVERAGE SALES PRICE: JANUARY 2000 Period Median Average 1998 152,500 181,900 1999(r) 160,000 194,900 AVG. RSE(%) 2 2 1999 - January 152,500 182,800 October(r) 160,000 200,300 November(r) 170,700 211,500 December(r) 164,000 203,800 2000 - JANUARY(p) 154,400 194,800 AVG. RSE(%) 4 2 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). Source: Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $28.00. Questions or comments regarding these data may be directed to Dale R. Jacobson, Residential Construction Branch, Manufacturing and Construction Division, U.S. Census Bureau. Telephone: (301) 457-1321. The following data will appear in Tables 3 through 8 and Table A-1 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................. 886 228 334 324 1999\r............... 907 215 369 323 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...... 67 14 27 26 FEBRUARY..... 78 19 29 30 MARCH........ 86 19 35 31 APRIL........ 88 18 36 34 MAY.......... 83 19 34 30 JUNE......... 86 21 34 31 JULY......... 80 20 32 28 AUGUST....... 81 21 32 28 SEPTEMBER.... 67 16 28 23 OCTOBER\r.... 69 18 31 20 NOVEMBER\r... 63 14 27 21 DECEMBER\r... 59 16 25 18 2000: JANUARY\p.... 65 18 28 19 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 2 4 3 5 MONTHLY (PERCENT).... 4 7 5 11 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 1999\r............... 327 83 201 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...... 294 72 182 39 FEBRUARY..... 291 70 182 39 MARCH........ 296 71 187 38 APRIL........ 299 73 183 44 MAY.......... 302 76 186 40 JUNE......... 307 76 181 50 JULY......... 305 73 183 49 AUGUST....... 305 71 188 46 SEPTEMBER.... 313 76 191 46 OCTOBER\r.... 316 76 197 43 NOVEMBER\r... 320 81 200 39 DECEMBER\r... 327 83 201 43 2000: JANUARY\p.... 325 85 196 45 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 3 4 3 6 MONTHLY (PERCENT).... 3 5 3 5 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 1999\r.............. 907 33 73 100 190 214 297 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..... 67 3 7 7 15 17 18 FEBRUARY.... 78 3 6 10 17 17 26 MARCH....... 86 3 8 11 18 21 26 APRIL....... 88 2 10 9 18 21 28 MAY......... 83 3 7 10 19 18 26 JUNE........ 86 3 6 10 18 20 28 JULY........ 80 3 7 10 15 19 26 AUGUST...... 81 3 7 9 20 18 25 SEPTEMBER... 67 2 6 7 14 17 22 OCTOBER\r... 69 2 5 6 16 17 22 NOVEMBER\r.. 63 3 3 7 12 15 23 DECEMBER\r.. 59 3 4 6 11 16 20 2000: JANUARY\p... 65 4 6 6 15 15 20 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 7 5 6 5 5 5 MONTHLY (PERCENT)... 4 24 16 13 8 8 7 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 1999\r.............. 4 8 11 21 24 33 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..... 4 11 11 23 25 27 FEBRUARY.... 4 7 13 21 21 33 MARCH....... 3 9 13 21 24 30 APRIL....... 3 11 11 20 23 32 MAY......... 4 8 13 23 21 31 JUNE........ 4 7 12 21 23 33 JULY........ 4 9 13 18 24 32 AUGUST...... 3 8 11 25 23 30 SEPTEMBER... 3 9 10 20 25 33 OCTOBER\r... 4 8 8 24 25 32 NOVEMBER\r.. 4 5 11 20 24 37 DECEMBER\r.. 5 6 10 19 27 34 2000: JANUARY\p... 6 9 9 24 22 31 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 7 5 6 5 5 5 MONTHLY (PERCENT)... 24 15 12 7 7 6 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 1999\r.............. 160,000 194,900 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..... 152,500 182,800 FEBRAURY.... 159,900 191,400 MARCH....... 155,000 189,400 APRIL....... 160,000 191,400 MAY......... 154,800 188,200 JUNE......... 158,300 193,400 JULY......... 157,900 188,800 AUGUST....... 154,900 193,300 SEPTEMBER.... 162,000 194,400 OCTOBER\r... 160,000 200,300 NOVEMBER\r.. 170,700 211,500 DECEMBER\r.. 164,000 203,800 2000: JANUARY\p... 154,400 194,800 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 2 MONTHLY (PERCENT)... 4 2 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. 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 (r) (r) 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 1999\r............. 3.3 (X) 4.2 (X) 4.6 MONTHLY DATA 1997: JANUARY..... 4.8 4.2 5.1 4.8 4.9 FEBRUARY.... 4.5 4.0 5.3 4.8 4.8 MARCH....... 3.9 3.9 5.4 4.9 4.8 APRIL....... 4.1 4.0 5.2 4.8 4.6 MAY......... 3.8 4.0 4.7 4.7 4.7 JUNE........ 2.7 3.0 4.4 4.7 4.6 JULY........ 3.4 3.6 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 3.5 4.9 4.8 4.3 1998: JANUARY..... 4.3 3.7 5.1 4.8 4.9 FEBRUARY.... 4.2 3.7 5.3 4.8 5.3 MARCH....... 3.6 3.5 5.1 4.6 5.8 APRIL....... 3.9 3.8 4.5 4.3 5.9 MAY......... 2.7 2.8 4.2 4.1 5.5 JUNE........ 3.2 3.5 3.8 4.1 5.3 JULY........ 3.5 3.7 3.9 4.3 5.1 AUGUST...... 3.1 3.4 4.0 4.4 5.2 SEPTEMBER... 3.5 3.8 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 3.5 4.0 4.0 5.0 1999: JANUARY..... 3.3 2.8 4.3 4.0 5.1 FEBRUARY.... 4.0 3.6 4.4 4.0 5.1 MARCH....... 3.1 3.1 4.4 3.9 5.0 APRIL....... 3.6 3.5 4.2 4.0 4.8 MAY......... 2.9 3.1 3.8 3.8 4.2 JUNE......... 3.1 3.4 3.8 4.1 3.9 JULY......... 3.2 3.4 3.9 4.2 4.2 AUGUST....... 3.2 3.6 3.7 4.1 4.4 SEPTEMBER.... 3.0 3.2 3.9 4.2 4.2 OCTOBER\r.... 3.4 3.6 3.8 4.0 4.4 NOVEMBER\r... 3.1 3.0 3.9 4.1 4.5 DECEMBER\r... 3.7 3.3 4.2 4.1 4.6 2000: JANUARY\p.... 3.7 3.2 4.4 4.1 4.8 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 3 (X) 5 (X) 7 MONTHLY (PERCENT)... 11 11 6 6 13 p Preliminary. r Revised. X Not applicable. Table 6. 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 121.0 121.0 121.0 122.3 123.4 110.9 125.4 118.7 123.6 1999 127.1\r 127.2 127.0 129.3 128.9\r 115.4\r 131.2\r 124.4\r 130.9\r r Revised. Table 6A. 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 121.4 120.3 120.3 121.6 122.7 110.7 124.7 120.4 122.9 1999 127.7\r 126.5 126.3 128.5 128.1\r 114.9\r 129.7\r 125.5\r 132.0\r r Revised. Table 7. 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 2.6 181,900 3.2 1999\r 184,000 5.2 194,900 7.1 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 7. 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 3.1 189,100 4.2 Second quarter 182,000 -0.2 191,700 1.4 Third quarter 185,200 1.8 192,900 0.6 Fourth quarter 184,600\r -0.3\r 203,900 5.7 p Preliminary. r Revised. X Not applicable. 1 Derived from unrounded figures. Table 8. Average Sales Price of Kinds of New One-Family Houses Sold in 1992 Compared With That of Houses Actually Sold by Region (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 NORTHEAST 1977 70,800 (X) 54,800 (X) 1978 77,600 9.5 63,000 15.0 1979 88,700 14.4 71,500 13.5 1980 97,500 10.0 80,300 12.3 1981 105,700 8.4 88,500 10.2 1982 109,400 3.5 88,600 0.1 1983 116,300 6.3 96,200 8.6 1984 126,200 8.5 107,400 11.6 1985 138,900 10.1 121,900 13.5 1986 159,400 14.8 151,300 24.1 1987 181,100 13.6 170,900 13.0 1988 185,500 2.4 179,300 4.9 1989 191,000 3.0 188,600 5.2 1990 187,100 -2.1 190,500 1.0 1991 181,000 -3.3 188,800 -0.9 1992 194,900 7.7 194,900 3.2 1993 189,300 -2.9 183,600 -5.8 1994 191,800 1.3 200,500 9.2 1995 196,300 2.4 216,600 8.0 1996 202,900 3.3 226,100 4.4 1997 207,800 2.4 234,100 3.5 1998 215,700 3.8 240,100 2.6 1999 224,000\r 3.8\r 246,500 2.7 MIDWEST 1977 68,500 (X) 55,200 (X) 1978 78,500 14.6 64,200 16.3 1979 87,900 12.0 73,000 13.7 1980 91,900 4.5 74,400 1.9 1981 100,500 9.3 82,500 10.9 1982 103,300 2.9 87,700 6.3 1983 103,200 -0.2 97,600 11.3 1984 109,200 5.9 107,800 10.5 1985 107,400 -1.6 95,400 -11.5 1986 113,600 5.7 102,600 7.5 1987 121,100 6.7 115,500 12.6 1988 126,500 4.4 123,700 7.1 1989 129,400 2.3 130,600 5.6 1990 130,500 1.1 133,000 1.8 1991 133,900 2.6 134,500 1.1 1992 136,400 1.9 136,400 1.4 1993 145,500 6.7 143,100 4.9 1994 152,700 4.9 152,700 6.7 1995 158,600 3.9 157,200 2.9 1996 161,800 2.0 158,900 1.1 1997 167,600 3.6 173,000 8.9 1998 170,200 1.5 179,200 3.6 1999 176,900\r 4.0\r 184,400 2.9 See footnotes at end of table. Table 8. Average Sales Price of Kinds of New One-Family Houses Sold in 1992 Compared With That of Houses Actually Sold by Region (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 SOUTH 1977 63,200 (X) 48,100 (X) 1978 70,300 11.3 55,600 15.6 1979 80,900 15.0 63,800 14.7 1980 90,300 11.7 69,100 8.3 1981 98,200 8.7 75,600 9.4 1982 101,300 3.2 78,300 3.6 1983 104,100 2.8 83,000 6.0 1984 107,400 3.2 86,000 3.6 1985 109,700 2.1 88,900 3.4 1986 113,000 3.1 95,300 7.2 1987 117,000 3.5 106,600 11.9 1988 119,700 2.3 114,800 7.7 1989 123,000 2.8 123,100 7.2 1990 123,300 0.2 123,500 0.3 1991 125,600 1.9 123,000 -0.4 1992 126,900 1.0 126,900 3.2 1993 132,900 4.7 133,600 5.3 1994 137,700 3.6 136,800 2.4 1995 142,000 3.2 142,000 3.8 1996 142,800 0.6 144,200 1.5 1997 147,800 3.5 151,400 5.0 1998 152,700 3.3 159,700 5.5 1999 159,300\r 4.3\r 171,300 7.3 WEST 1977 68,900 (X) 60,700 (X) 1978 82,400 19.6 70,100 15.5 1979 96,100 16.6 82,000 17.0 1980 107,500 11.9 89,400 9.0 1981 114,300 6.3 95,800 7.2 1982 115,600 1.1 92,600 -3.3 1983 117,900 2.0 97,200 5.0 1984 122,100 3.6 109,400 12.6 1985 123,000 0.7 111,800 2.2 1986 126,100 2.5 116,100 3.8 1987 132,700 5.3 134,600 15.9 1988 139,800 5.4 155,700 15.7 1989 148,700 6.3 173,900 11.7 1990 155,900 4.8 180,600 3.9 1991 156,900 0.7 176,400 -2.3 1992 157,800 0.6 157,800 -10.5 1993 163,500 3.6 161,900 2.6 1994 174,900 7.0 168,900 4.3 1995 177,900 1.7 169,800 0.5 1996 184,300 3.6 186,200 9.7 1997 190,100 3.2 198,200 6.4 1998 193,900 2.0 200,500 1.2 1999 208,200\r 7.4\r 222,100 10.8 p Preliminary. r Revised. X Not applicable. 1 Derived from unrounded figures. TABLE A-1. CURRENT SEASONAL FACTORS NEW HOUSES SOLD MONTH AND YEAR UNITED STATES IMPLICIT FACTOR North- Mid- South West east west 1997(r): JANUARY............... 97.0 76.4 75.4 93.4 93.1 FEBRUARY.............. 103.4 107.0 97.1 103.4 107.6 MARCH................. 99.8 102.3 124.5 116.4 118.2 APRIL................. 100.9 109.1 123.3 110.2 114.4 MAY................... 100.4 110.7 117.5 108.9 112.0 JUNE.................. 99.6 110.7 113.5 106.8 105.8 JULY.................. 99.6 101.0 104.4 103.0 101.4 AUGUST................ 99.4 114.4 101.2 106.4 105.3 SEPTEMBER............. 99.3 106.5 91.4 95.4 93.3 OCTOBER............... 99.9 90.2 95.5 92.4 92.6 NOVEMBER.............. 100.7 85.3 87.3 84.0 82.9 DECEMBER.............. 98.4 82.9 69.7 79.9 73.6 1998(r): JANUARY............... 98.4 77.3 75.6 93.4 93.0 FEBRUARY.............. 103.6 110.9 97.9 103.8 107.4 MARCH................. 99.2 102.9 120.8 115.4 118.3 APRIL................. 101.2 110.1 126.4 110.4 114.4 MAY................... 99.5 110.4 113.7 108.7 111.7 JUNE.................. 99.5 109.4 114.2 106.8 106.4 JULY.................. 99.0 101.4 100.8 103.6 101.2 AUGUST................ 100.4 114.5 106.2 106.6 105.0 SEPTEMBER............. 99.3 103.2 92.0 94.9 93.2 OCTOBER............... 99.8 87.5 96.4 91.9 92.7 NOVEMBER.............. 100.5 86.3 85.9 84.3 83.1 DECEMBER.............. 99.1 84.8 71.3 79.9 73.4 1999(r): JANUARY............... 98.8 78.6 71.8 93.4 93.3 FEBRUARY.............. 103.5 112.0 99.4 104.4 107.6 MARCH................. 99.5 102.8 122.5 115.2 118.2 APRIL................. 100.0 110.5 118.9 110.3 114.4 MAY................... 100.1 109.8 119.2 108.5 110.8 JUNE.................. 99.3 108.8 115.5 106.9 106.7 JULY.................. 99.5 101.9 102.6 104.1 101.5 AUGUST................ 99.8 114.1 102.9 106.6 104.7 SEPTEMBER............. 99.8 101.7 95.0 94.5 93.3 OCTOBER\r............. 92.0 86.6 93.7 91.3 93.0 NOVEMBER\r............ 84.7 87.5 86.0 84.6 83.2 DECEMBER\r............ 76.9 85.4 68.9 79.8 73.7 2000: JANUARY\p............. 88.9 79.2 74.0 93.5 93.3 MEDIAN MONTHS FROM START TO.. MONTH AND YEAR MONTHS NEW SUPPLY AT HOUSES CURRENT END OF FOR SALE SALES RATE SALE MONTH 1997(r): JANUARY.............. 100.4 108.7 115.8 106.5 FEBRUARY............. 98.4 95.6 112.5 110.0 MARCH................ 98.6 84.7 101.4 110.8 APRIL................ 99.6 87.0 102.2 106.8 MAY.................. 99.4 88.1 94.4 100.4 JUNE................. 99.9 90.8 90.5 93.9 JULY................. 100.1 95.8 94.0 91.8 AUGUST............... 99.2 92.6 91.0 92.6 SEPTEMBER............ 100.5 102.9 91.6 93.5 OCTOBER.............. 101.2 107.4 94.2 94.5 NOVEMBER............. 100.1 118.3 102.2 96.8 DECEMBER............. 102.0 128.6 110.4 101.1 1998(r): JANUARY.............. 100.2 109.2 115.3 106.9 FEBRUARY............. 98.4 94.6 112.2 110.3 MARCH................ 98.8 84.9 102.0 110.6 APRIL................ 99.6 86.9 102.6 106.2 MAY.................. 98.9 88.0 94.2 100.8 JUNE................. 100.4 90.6 90.3 93.7 JULY................. 99.9 95.5 93.8 92.5 AUGUST............... 99.2 92.6 90.7 91.9 SEPTEMBER............ 100.5 103.1 91.9 93.3 OCTOBER.............. 101.1 107.3 94.4 94.6 NOVEMBER............. 100.1 118.1 102.0 96.7 DECEMBER............. 102.0 129.0 110.9 100.6 1999(r): JANUARY............... 99.7 110.1 115.2 107.7 FEBRUARY.............. 98.4 94.5 112.2 110.4 MARCH................. 99.3 84.4 102.3 110.8 APRIL................. 99.6 86.8 102.5 107.0 MAY................... 99.0 87.9 93.6 100.1 JUNE.................. 100.5 90.4 90.4 93.5 JULY.................. 99.8 95.4 93.5 92.5 AUGUST................ 99.4 92.7 90.5 91.7 SEPTEMBER............. 100.5 103.2 92.4 92.8 OCTOBER\r............. 100.6 107.3 94.4 95.1 NOVEMBER\r............ 100.6 117.8 101.7 96.6 DECEMBER\r............ 101.8 129.1 111.6 101.6 2000: JANUARY\p............. 99.7 110.8 114.8 107.2 p Preliminary. r Revised. Source: Current Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $28.00. Questions or comments regarding these data may be directed to Dale R. Jacobson, Residential Construction Branch, Manufacturing and Construction Division, U.S. Census Bureau. Telephone: (301) 457-1321