For release 10:00 AM EST, February 3, 1998 CB98-21 DECEMBER 1997 NEW HOUSING SALES AT ANNUAL RATE OF 777,000 Sales of new one-family houses in December 1997 were at a seasonally adjusted annual rate of 777,000, according to estimates released today by the U.S. Commerce Department's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is 9 (+/-9) percent below the revised November rate of 857,000 and 2 (+/-9) percent below the December 1996 rate of 794,000. The median sales price of new houses sold in December 1997 was $142,600; the mean sales price was $177,800. At the end of December the seasonally adjusted estimate of new houses for sale was 284,000. This represents a supply of 4.6 months at the current sales rate. In 1997 there were 800,000 houses sold compared with 757,000 houses sold during 1996. This is an increase of 6 (+/-3) percent. New Home Sales data for January 1998 will be released on March 3, 1998, at 10:00 AM 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 "2 (+/-3) percent above" appears in the text, this indicates the range (from -1 percent to +5 percent) in which the actual percent change is likely to have occured. 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 1997 issue of CURRENT CONSTRUCTION REPORTS, C25/97-1, 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 +/-5 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. NEW ONE-FAMILY HOUSES SOLD: DECEMBER 1997 United North- Mid- Period States east west South West Seasonally adjusted annual rate 1996 - December 794 76 152 356 210 1997 - January 822 111 139 376 196 February 826 114 125 382 205 March 825 96 128 365 236 April 765 87 132 336 209 May 764 86 138 341 200 June 802 70 157 359 216 July 812 66 152 355 240 August 798 75 134 372 216 September(r) 816 67 132 379 238 October(r) 785 65 139 358 224 November(r) 857 85 163 380 229 DECEMBER(p) 777 75 145 350 206 AVG. RSE(%) 5 15 12 7 8 Not seasonally adjusted 1996 757 74 137 337 209 1997(p) 800 79 139 362 220 AVG. RSE(%) 2 6 7 3 4 1996 - December 51 6 9 23 13 1997 - September(r) 67 6 10 31 20 October(r) 61 5 11 28 17 November(r) 60 6 12 26 16 DECEMBER(p) 49 6 8 23 12 AVG. RSE(%) 5 15 12 7 8 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). NEW ONE-FAMILY HOUSES FOR SALE AT END OF PERIOD AND MONTHS SUPPLY AT CURRENT SALES RATE: DECEMBER 1997 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 1996 (X) (X) 326 38 67 146 74 (X) 1997(p) (X) (X) 291 26 65 128 72 (X) AVG. RSE(%) (X) (X) 3 10 6 4 6 (X) 1996 - December 322 5.0 326 38 67 146 74 6.4 1997 - January 308 4.6 309 34 65 137 73 5.1 February 300 4.3 296 30 63 132 71 4.3 March 287 4.3 284 28 63 126 67 3.5 April 291 4.6 289 28 65 129 67 4.1 May 288 4.6 286 26 64 127 68 4.0 June 288 4.4 288 27 62 129 69 4.0 July 288 4.4 289 28 63 130 68 4.2 August 286 4.4 284 28 62 127 68 4.0 September(r) 285 4.3 285 27 65 125 68 4.3 October(r) 285 4.4 288 27 66 126 69 4.7 November(r) 283 4.0 283 26 64 124 68 4.7 DECEMBER(p) 284 4.6 291 26 65 128 72 5.9 AVG. RSE(%) 3 6 3 10 7 4 4 6 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). MEDIAN AND AVERAGE SALES PRICE: DECEMBER 1997 Period Median Average 1996 140,000 166,400 1997(p) 145,500 175,700 AVG. RSE(%) 2 2 1996 - December 144,900 171,800 1997 - September(r) 146,300 177,500 October(r) 142,000 173,600 November(r) 144,000 174,800 DECEMBER(p) 142,600 177,800 AVG. RSE(%) 4 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). Source: Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $3500. Questions regarding these data may be directed to Dale R. Jacobson Residential Construction Branch, Manufacturing and Construction Division, Bureau of the Census, telephone (301) 457-4666. The following data will appear in the tables of the December 1997 Current Construction Report, Series C25, "New One-Family Houses Sold." TABLE 1. NEW HOUSES SOLD AND FOR SALE AND MONTHS SUPPLY AT CURRENT SALES RATE (IN THOUSANDS) NOT SEASONALLY ADJUSTED SOLD FOR SALE MONTHS SUPPLY AT CURRENT SALES RATE/1 ANNUAL DATA 1995................ 667 374 (X) 1996................ 757 326 (X) 1997\p.............. 800 291 (X) MONTHLY DATA 1996: JANUARY..... 54 370 6.9 FEBRUARY.... 68 362 5.3 MARCH....... 70 362 5.2 APRIL....... 70 366 5.2 MAY......... 69 360 5.2 JUNE........ 65 355 5.5 JULY........ 66 351 5.3 AUGUST...... 73 342 4.7 SEPTEMBER... 62 332 5.3 OCTOBER..... 56 332 6.0 NOVEMBER.... 54 330 6.1 DECEMBER.... 51 326 6.4 1997: JANUARY..... 61 309 5.1 FEBRUARY.... 69 296 4.3 MARCH....... 81 284 3.5 APRIL....... 70 289 4.1 MAY......... 71 286 4.0 JUNE........ 71 288 4.0 JULY........ 69 289 4.2 AUGUST...... 72 284 4.0 SEPTEMBER\r. 67 285 4.3 OCTOBER\r... 61 288 4.7 NOVEMBER\r.. 60 283 4.7 DECEMBER\p.. 49 291 5.9 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 3 (X) MONTHLY (PERCENT.... 5 3 6 See footnotes at end of table. TABLE 1. NEW HOUSES SOLD AND FOR SALE AND MONTHS SUPPLY AT CURRENT SALES RATE - CONTINUED (IN THOUSANDS) SEASONALLY ADJUSTED SOLD/2 FOR SALE MONTHS SUPPLY AT CURRENT SALES RATE/1 MONTHLY DATA 1996: JANUARY..... 727 370 6.3 FEBRUARY.... 778 354 5.1 MARCH....... 711 367 6.2 APRIL....... 741 368 6.0 MAY......... 732 362 5.9 JUNE........ 732 355 5.9 JULY........ 782 352 5.6 AUGUST...... 814 343 5.2 SEPTEMBER... 768 331 5.3 OCTOBER..... 706 330 5.7 NOVEMBER.... 788 327 5.1 DECEMBER.... 794 322 5.0 1997: JANUARY..... 822 308 4.6 FEBRUARY.... 826 300 4.3 MARCH....... 825 287 4.3 APRIL....... 765 291 4.6 MAY......... 764 288 4.6 JUNE........ 802 288 4.4 JULY........ 812 288 4.4 AUGUST...... 798 286 4.4 SEPTEMBER\r. 816 285 4.3 OCTOBER\r... 785 285 4.4 NOVEMBER\r.. 857 283 4.0 DECEMBER\p.. 777 284 4.6 AVERAGE RELATIVE STANDARD ERRORS MONTHLY (PERCENT)... 5 3 6 p Preliminary. r Revised. X Not applicable. 1 Ratio of houses sold to houses for sale. 2 Annual rate. TABLE 2. HOUSES SOLD AND FOR SALE, BY REGION (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING) SOLD DURING PERIOD - NOT SEASONALLY ADJUSTED UNITED NORTH- MID- STATES EAST WEST SOUTH WEST 1995................ 667 55 125 300 187 1996................ 757 74 137 337 209 1997/p.............. 800 79 139 362 220 MONTHLY DATA 1996: JANUARY..... 54 3 10 24 17 FEBRUARY.... 68 5 11 31 21 MARCH....... 70 4 13 32 20 APRIL....... 70 6 13 30 21 MAY......... 69 5 14 32 19 JUNE........ 65 7 12 28 18 JULY........ 66 7 12 29 18 AUGUST...... 73 8 14 33 19 SEPTEMBER... 62 9 10 27 17 OCTOBER..... 56 6 9 26 15 NOVEMBER.... 54 6 9 25 14 DECEMBER.... 51 6 9 23 13 1997: JANUARY..... 61 7 9 29 15 FEBRUARY.... 69 9 10 33 18 MARCH....... 81 8 13 36 24 APRIL....... 70 8 14 30 19 MAY......... 71 8 13 31 18 JUNE........ 71 7 15 31 19 JULY........ 69 6 13 30 21 AUGUST...... 72 7 12 34 19 SEPTEMBER\r. 67 6 10 31 20 OCTOBER\r... 61 5 11 28 17 NOVEMBER\r.. 60 6 12 26 16 DECEMBER\p.. 49 6 8 23 12 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 6 7 3 4 MONTHLY (PERCENT)... 5 15 12 7 8 See footnotes at end of table. TABLE 2. HOUSES SOLD AND FOR SALE, BY REGION - CONTINUED (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING) SOLD DURING PERIOD - SEASONALLY ADJUSTED UNITED NORTH- MID- STATES EAST WEST SOUTH WEST MONTHLY DATA 1996: JANUARY..... 727 50 158 308 212 FEBRUARY.... 778 65 132 352 229 MARCH....... 711 51 131 322 206 APRIL....... 741 61 124 330 226 MAY......... 732 57 138 341 196 JUNE........ 732 75 133 323 202 JULY........ 782 82 139 345 217 AUGUST...... 814 84 160 365 205 SEPTEMBER... 768 93 129 341 205 OCTOBER..... 706 69 113 329 195 NOVEMBER.... 788 78 127 368 216 DECEMBER.... 794 76 152 356 210 1997: JANUARY..... 822 111 139 376 196 FEBRUARY.... 826 114 125 382 205 MARCH....... 825 96 128 365 236 APRIL....... 765 87 132 336 209 MAY......... 764 86 138 341 200 JUNE........ 802 70 157 359 216 JULY........ 812 66 152 355 240 AUGUST...... 798 75 134 372 216 SEPTEMBER\r. 816 67 132 379 238 OCTOBER\r... 785 65 139 358 224 NOVEMBER\r.. 857 85 163 380 229 DECEMBER\p.. 777 75 145 350 206 AVERAGE RELATIVE STANDARD ERRORS MONTHLY (PERCENT)... 5 15 12 7 8 See footnotes at end of table. TABLE 2. HOUSES SOLD AND FOR SALE, BY REGION - CONTINUED (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING) FOR SALE AT END OF PERIOD - NOT SEASONALLY ADJUSTED UNITED NORTH- MID- STATES EAST WEST SOUTH WEST 1995................ 374 62 69 158 86 1996................ 326 38 67 146 74 1997/p.............. 291 26 65 128 72 MONTHLY DATA 1996: JANUARY..... 370 61 66 158 85 FEBRUARY.... 362 58 66 157 81 MARCH....... 362 59 66 159 79 APRIL....... 366 59 67 163 77 MAY......... 360 61 67 158 74 JUNE........ 355 59 66 156 74 JULY........ 351 56 65 155 75 AUGUST...... 342 51 64 153 74 SEPTEMBER... 332 45 65 148 73 OCTOBER..... 332 42 68 147 76 NOVEMBER.... 330 41 69 147 73 DECEMBER.... 326 38 67 146 74 1997: JANUARY..... 309 34 65 137 73 FEBRUARY.... 296 30 63 132 71 MARCH....... 284 28 63 126 67 APRIL....... 289 28 65 129 67 MAY......... 286 26 64 127 68 JUNE........ 288 27 62 129 69 JULY........ 289 28 63 130 68 AUGUST...... 284 28 62 127 68 SEPTEMBER\r. 285 27 65 125 68 OCTOBER\r... 288 27 66 126 69 NOVEMBER\r.. 283 26 64 124 68 DECEMBER\p.. 291 26 65 128 72 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 3 10 6 4 6 MONTHLY (PERCENT)... 3 10 7 4 4 p Preliminary. r Revised. X Not applicable. 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\p............... 800 236 297 268 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\r.. 67 18 26 22 OCTOBER\r.... 61 17 25 19 NOVEMBER\r... 60 18 24 18 DECEMBER\p... 49 15 18 16 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 2 4 3 5 MONTHLY (PERCENT..... 5 7 6 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\p............... 291 92 162 37 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\r.. 285 90 164 31 OCTOBER\r.... 288 91 164 33 NOVEMBER\r... 283 92 159 32 DECEMBER\p... 291 92 162 37 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 3 4 3 6 MONTHLY (PERCENT..... 3 4 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\p.............. 800 52 94 103 172 175 205 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\r. 67 4 8 8 14 15 17 OCTOBER\r... 61 3 7 9 14 13 15 NOVEMBER\r.. 60 4 8 7 14 13 15 DECEMBER\p.. 49 4 5 6 12 10 12 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 7 5 6 5 5 5 MONTHLY (PERCENT.... 5 23 14 11 9 8 9 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\p.............. 6 12 13 22 22 26 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\r. 6 12 12 21 23 25 OCTOBER\r... 6 12 14 23 22 24 NOVEMBER\r.. 6 13 12 23 21 25 DECEMBER\r.. 8 10 12 24 21 25 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 7 5 6 5 5 5 MONTHLY (PERCENT.... 22 13 10 7 6 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\p.............. 145,500 175,700 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\r. 146,300 177,500 OCTOBER\r... 142,000 173,600 NOVEMBER\r.. 144,000 174,800 DECEMBER\p.. 142,600 177,800 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 2 MONTHLY (PERCENT.... 4 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 NORTHEAST MIDWEST SOUTH WEST 1997: SEPTEMBER\r.... 97.9 112.7 89.0 97.7 98.9 OCTOBER\r...... 92.9 100.3 91.4 93.2 91.2 NOVEMBER\r..... 83.6 84.4 86.2 83.5 81.7 DECEMBER\p..... 76.1 91.7 68.8 78.0 72.1 See footnotes at end of table. TABLE 5. CURRENT SEASONAL FACTORS - CONTINUED MEDIAN MONTHS FROM START TO.. MONTH AND YEAR MONTHS NEW SUPPLY AT HOUSES CURRENT END OF FOR SALE SALES RATE SALE MONTH 1997: SEPTEMBER\r.... 100.1 100.1 91.5 93.5 OCTOBER\r...... 101.2 107.8 93.6 94.4 NOVEMBER\r..... 100.1 117.5 103.6 96.5 DECEMBER\p..... 102.6 130.0 107.6 100.4 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\p............. MONTHLY DATA 1996: JANUARY...... 4.7 4.1 5.5 5.2 5.7 FEBRUARY.... 4.5 3.9 5.7 5.1 5.7 MARCH....... 4.4 4.2 5.8 5.3 5.5 APRIL....... 4.2 4.2 5.6 5.3 5.7 MAY......... 4.4 4.5 5.4 5.3 5.8 JUNE........ 4.3 4.7 4.9 5.1 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 4.7 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 4.1 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 4.9 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 2.9 4.4 4.6 4.6 JULY........ 3.4 3.7 4.3 4.6 4.6 AUGUST...... 3.1 3.4 4.4 4.8 4.2 SEPTEMBER\r. 3.2 3.5 4.4 4.7 4.2 OCTOBER\r... 3.4 3.7 4.4 4.7 4.1 NOVEMBER\r.. 3.8 3.7 4.6 4.8 4.0 DECEMBER\p.. 4.0 3.7 4.9 4.8 4.3 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 3 (X) 5 (X) 7 MONTHLY (PERCENT.... 12 12 6 6 9 p Preliminary. r Revised. X Not applicable. TABLE 7. HOUSES SOLD BY SALES PRICE (COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. VALUE OF IMPROVED LOT INCLUDED IN SALES PRICE. PERCENTS COMPUTED FROM UNROUNDED FIGURES) 60K 70K 80K 90K 100K 120K 150K 200K 250K PERIOD UNDER TO TO TO TO TO TO TO TO AND TOTAL 60K 70K 80K 90K 100K 120K 150K 200K 250K OVER NUMBER OF HOUSES (THOUSANDS) ANNUAL DATA 1995....... 667 11 15 32 50 51 99 144 127 63 75 1996....... 757 11 15 33 47 57 101 159 160 79 96 1997\p..... 800 10 13 28 47 47 103 172 175 81 124 QUARTERLY DATA 1995 1ST QTR.... 154 4 4 9 12 13 22 33 29 14 15 2ND QTR.... 185 3 4 8 13 13 30 40 35 18 22 3RD QTR.... 182 3 4 9 15 16 27 39 32 17 20 4TH QTR.... 145 2 3 7 11 10 20 32 30 14 17 1996 1ST QTR.... 191 3 4 10 13 16 27 40 38 20 22 2ND QTR.... 204 3 4 9 13 15 26 43 45 19 25 3RD QTR.... 201 3 4 9 14 14 28 42 40 22 24 4TH QTR.... 161 2 3 6 8 12 21 34 35 18 22 1997 1ST QTR.... 211 2 4 8 13 13 29 43 46 23 30 2ND QTR.... 212 3 3 8 11 14 27 46 45 23 33 3RD QTR\r.. 207 2 4 7 13 13 27 44 47 22 30 4th QTR\p.. 170 3 3 5 11 9 22 39 36 14 28 AVERAGE RELATIVE STANDARD ERRORS ANNUAL.(%). 2 11 9 7 7 6 6 5 5 6 6 QTRLY..(%). 3 27 21 20 13 11 7 5 6 8 8 See footnotes at end of table. TABLE 7. HOUSES SOLD BY SALES PRICE - CONTINUED (COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. VALUE OF IMPROVED LOT INCLUDED IN SALES PRICE. PERCENTS COMPUTED FROM UNROUNDED FIGURES) 60K 70K 80K 90K 100K 120K 150K 200K 250K PERIOD UNDER TO TO TO TO TO TO TO TO AND TOTAL 60K 70K 80K 90K 100K 120K 150K 200K 250K OVER PERCENT DISTRIBUTION ANNUAL DATA 1995...... 100 2 2 5 7 8 15 22 19 9 11 1996...... 100 1 2 4 6 8 13 21 21 10 13 1997\p.... 100 1 2 4 6 6 13 22 22 10 15 QUARTERLY DATA 1995 1ST QTR... 100 3 3 6 8 8 14 22 19 9 10 2ND QTR... 100 1 2 4 7 7 16 22 19 10 12 3RD QTR... 100 1 2 5 8 9 15 22 18 9 11 4TH QTR... 100 1 2 5 7 7 14 22 20 9 12 1996 1ST QTR... 100 1 2 5 7 9 14 21 20 10 11 2ND QTR... 100 2 2 4 6 7 13 21 22 9 12 3RD QTR... 100 2 2 4 7 7 14 21 20 11 12 4TH QTR... 100 1 2 4 5 8 13 21 22 11 14 1997 1ST QTR... 100 1 2 4 6 6 14 20 22 11 14 2ND QTR... 100 1 1 4 5 6 13 22 21 11 16 3RD QTR\r. 100 1 2 3 6 6 13 21 23 10 14 4TH QTR\p. 100 2 2 3 6 5 13 23 21 8 16 AVERAGE RELATIVE STANDARD ERRORS ANNUAL.(%). (X) 9 7 6 5 5 5 5 4 5 5 QTRLY..(%). (X) 27 21 20 13 11 6 4 5 7 7 p Preliminary. r Revised. X Not applicable. TABLE 8. HOUSES SOLD BY SALES PRICE WITHIN REGION (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. VALUE OF IMPROVED LOT INCLUDED IN SALES PRICE) NORTHEAST 80,000 120,000 150,000 200,000 80,000 120,000 150,000 200,000 PERIOD TOTAL UNDER TO TO TO AND SOLD 80,000 119,999 149,999 199,999 OVER ANNUAL DATA 1995................ 55 2 8 9 13 23 1996................ 74 2 9 11 18 33 1997\p.............. 79 2 9 11 20 37 QUARTERLY DATA 1995 1ST QUARTER......... 13 (B) 2 3 3 5 2ND QUARTER......... 17 (B) 2 3 4 7 3RD QUARTER......... 12 (B) 2 2 2 6 4TH QUARTER......... 14 (B) 2 2 3 6 1996 1ST QUARTER......... 12 (B) 2 2 3 5 2ND QUARTER......... 18 (B) 2 2 4 9 3RD QUARTER......... 23 (B) 3 3 6 10 4TH QUARTER......... 17 (B) 2 2 4 9 1997 1ST QUARTER......... 23 (B) 2 3 5 12 2ND QUARTER......... 21 (B) 3 3 5 10 3RD QUARTER\r....... 18 (B) 2 3 6 7 4TH QUARTER\p....... 17 (B) 2 2 4 9 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 6 25 17 9 10 13 QUARTERLY.(PERCENT). 11 88 31 23 18 28 See footnotes at end of table. TABLE 8. HOUSES SOLD, BY SALES PRICE WITHIN REGION - CONTINUED (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. VALUE OF IMPROVED LOT INCLUDED IN SALES PRICE) MIDWEST 80,000 120,000 150,000 200,000 PERIOD TOTAL UNDER TO TO TO AND SOLD 80,000 119,999 149,999 199,999 OVER ANNUAL DATA 1995................ 125 6 41 27 25 26 1996................ 137 6 41 32 29 29 1997\p.............. 139 5 36 31 32 35 QUARTERLY DATA 1995 1ST QUARTER......... 28 2 9 7 6 5 2ND QUARTER......... 37 2 12 8 7 8 3RD QUARTER......... 33 2 12 7 6 7 4TH QUARTER......... 26 (B) 9 6 5 5 1996 1ST QUARTER......... 35 2 11 8 6 8 2ND QUARTER......... 39 2 11 10 9 8 3RD QUARTER......... 35 2 12 9 7 6 4TH QUARTER......... 27 (B) 7 6 6 6 1997 1ST QUARTER......... 32 2 9 6 8 7 2ND QUARTER......... 42 (B) 11 9 9 11 3RD QUARTER\r....... 34 (B) 8 7 8 10 4TH QUARTER\p....... 31 2 8 9 7 5 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 7 12 14 15 13 14 QUARTERLY.(PERCENT). 9 32 14 13 13 19 See footnotes at end of table. TABLE 8. HOUSES SOLD, BY SALES PRICE WITHIN REGION - CONTINUED (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. VALUE OF IMPROVED LOT INCLUDED IN SALES PRICE) SOUTH 80,000 120,000 150,000 200,000 PERIOD TOTAL UNDER TO TO TO AND SOLD 80,000 119,999 149,999 199,999 OVER ANNUAL DATA 1995................ 300 42 98 63 49 47 1996................ 337 44 108 69 61 55 1997\p.............. 362 40 115 75 69 62 QUARTERLY DATA 1995 1ST QUARTER......... 72 13 24 14 11 10 2ND QUARTER......... 76 11 25 17 12 12 3RD QUARTER......... 84 11 30 17 13 13 4TH QUARTER......... 65 8 20 14 13 10 1996 1ST QUARTER......... 87 12 29 16 17 14 2ND QUARTER......... 89 12 29 18 17 13 3RD QUARTER......... 89 14 29 19 14 14 4TH QUARTER......... 74 9 23 17 14 12 1997 1ST QUARTER......... 99 11 33 20 19 16 2ND QUARTER......... 92 11 27 20 18 16 3RD QUARTER\r....... 95 10 33 19 18 16 4TH QUARTER\p....... 77 8 24 18 14 12 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 3 6 7 9 9 7 QUARTERLY.(PERCENT). 5 22 9 8 7 7 See footnotes at end of table. TABLE 8. HOUSES SOLD, BY SALES PRICE WITHIN REGION - CONTINUED (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. VALUE OF IMPROVED LOT INCLUDED IN SALES PRICE) WEST 80,000 120,000 150,000 200,000 PERIOD TOTAL UNDER TO TO TO AND SOLD 80,000 119,999 149,999 199,999 OVER ANNUAL DATA 1995................ 187 8 53 44 40 42 1996................ 209 6 46 47 51 59 1997\p.............. 220 4 37 55 54 70 QUARTERLY DATA 1995 1ST QUARTER......... 41 2 12 10 9 8 2ND QUARTER......... 55 2 17 12 12 13 3RD QUARTER......... 53 2 14 13 11 12 4TH QUARTER......... 40 2 11 10 9 9 1996 1ST QUARTER......... 58 2 14 14 13 15 2ND QUARTER......... 58 2 12 13 16 15 3RD QUARTER......... 53 (B) 12 12 13 16 4TH QUARTER......... 42 (B) 8 10 10 13 1997 1ST QUARTER......... 58 (B) 10 14 14 18 2ND QUARTER......... 57 (B) 11 14 13 19 3RD QUARTER\r....... 60 (B) 9 16 16 18 4TH QUARTER\p....... 45 (B) 7 11 11 15 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 3 16 9 7 7 6 QUARTERLY.(PERCENT). 4 37 12 6 11 7 B Withheld because estimate did not meet publication standards on the basis of sample size. p Preliminary. r Revised. TABLE 9. MEDIAN SALES PRICE OF HOUSES SOLD BY REGION (IN DOLLARS) PERIOD UNITED NORTH- STATES EAST MIDWEST SOUTH WEST ANNUAL DATA 1995................ 133,900 180,000 134,000 124,500 141,000 1996................ 140,000 186,000 138,000 126,200 153,900 1997\p.............. 145,500 190,000 146,500 129,000 160,000 QUARTERLY DATA 1995 1ST QUARTER......... 130,000 179,900 130,000 118,000 139,400 2ND QUARTER......... 133,900 179,900 136,000 124,500 140,000 3RD QUARTER......... 132,000 179,900 131,000 121,000 143,000 4TH QUARTER......... 138,000 183,500 135,000 127,000 143,000 1996 1ST QUARTER......... 137,000 179,000 135,200 125,500 148,200 2ND QUARTER......... 139,900 199,700 138,200 125,000 155,900 3RD QUARTER......... 140,000 181,000 134,900 123,900 154,800 4TH QUARTER......... 144,100 200,000 145,000 127,900 160,000 1997 1ST QUARTER......... 145,000 204,400 144,900 127,100 159,900 2ND QUARTER......... 145,800 189,000 148,500 129,900 160,000 3RD QUARTER\r....... 145,000 180,000 150,000 127,000 159,000 4TH QUARTER\p....... 143,000 199,900 137,900 128,000 159,900 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 2 7 4 2 2 QUARTERLY.(PERCENT). 2 17 19 3 1 See footnotes at end of table. TABLE 9. AVERAGE SALES PRICE OF HOUSES SOLD BY REGION (IN DOLLARS) PERIOD UNITED NORTH- STATES EAST MIDWEST SOUTH WEST ANNUAL DATA 1995................ 158,700 216,600 157,200 142,000 169,800 1996................ 166,400 226,100 158,900 144,200 186,200 1997\p.............. 175,700 235,800 170,300 150,800 198,400 QUARTERLY DATA 1995 1ST QUARTER......... 153,500 217,100 153,100 135,900 164,600 2ND QUARTER......... 158,900 209,400 160,500 140,500 169,300 3RD QUARTER......... 157,700 217,100 152,500 140,800 173,600 4TH QUARTER......... 160,900 217,500 160,000 144,200 169,500 1996 1ST QUARTER......... 161,100 217,500 160,200 143,800 177,200 2ND QUARTER......... 166,000 238,400 155,900 140,900 189,400 3RD QUARTER......... 164,000 211,600 153,500 141,000 187,900 4TH QUARTER......... 171,000 245,400 162,700 146,000 190,800 1997 1ST QUARTER......... 172,200 235,900 164,400 147,700 193,800 2ND QUARTER......... 177,200 239,300 173,000 151,500 199,500 3RD QUARTER\r....... 174,700 229,800 173,200 150,600 195,800 4TH QUARTER\p....... 174,900 238,200 155,700 149,700 206,300 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 2 7 4 3 3 QUARTERLY.(PERCENT). 2 11 3 3 3 p Preliminary. r Revised. TABLE 10. HOUSES SOLD BY TYPE OF FINANCING (COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. PERCENTS COMPUTED FROM UNROUNDED FIGURES) NUMBER OF HOUSES (THOUSANDS)/1 TYPE OF FINANCING VA RURAL TOTAL FHA GUARAN- CONVEN- HOUS. SOLD INSURED TEED TIONAL/2 SERV. CASH ANNUAL DATA 1995................ 667 79 50 490 9 39 1996................ 757 89 51 570 9 38 1997\p.............. 800 89 47 613 6 45 QUARTERLY DATA 1995 1ST QUARTER......... 154 19 12 112 2 9 2ND QUARTER......... 185 22 14 136 2 11 3RD QUARTER......... 182 21 14 134 3 11 4TH QUARTER......... 145 16 11 108 (B) 9 1996 1ST QUARTER......... 191 26 17 139 2 8 2ND QUARTER......... 204 23 14 154 3 10 3RD QUARTER......... 201 21 14 154 3 10 4TH QUARTER......... 161 19 8 124 (B) 9 1997 1ST QUARTER......... 211 26 15 159 (B) 11 2ND QUARTER......... 212 24 11 164 2 12 3RD QUARTER\r....... 207 22 11 161 (B) 11 4TH QUARTER\p....... 170 18 11 130 2 9 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 2 6 8 3 26 6 QUARTERLY.(PERCENT). 3 8 18 4 31 9 See footnotes at end of table. TABLE 10. HOUSES SOLD, BY TYPE OF FINANCING - CONTINUED (COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. PERCENTS COMPUTED FROM UNROUNDED FIGURES) PERCENT DISTRIBUTION/1 TYPE OF FINANCING VA RURAL FHA GUARAN- CONVEN- HOUS. TOTAL INSURED TEED TIONAL/2 SERV. CASH ANNUAL DATA 1995................ 100 12 7 73 1 6 1996................ 100 12 7 75 1 5 1997\p.............. 100 11 6 77 1 6 QUARTERLY DATA 1995 1ST QUARTER......... 100 12 8 73 2 6 2ND QUARTER......... 100 12 8 74 1 6 3RD QUARTER......... 100 11 8 74 2 6 4TH QUARTER......... 100 11 8 74 (B) 6 1996 1ST QUARTER......... 100 14 9 73 1 4 2ND QUARTER......... 100 12 7 75 1 5 3RD QUARTER......... 100 10 7 76 1 5 4TH QUARTER......... 100 12 5 77 (B) 5 1997 1ST QUARTER......... 100 12 7 75 (B) 5 2ND QUARTER......... 100 11 5 77 1 6 3RD QUARTER\r....... 100 11 5 78 (B) 6 4TH QUARTER\p....... 100 11 6 77 1 5 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). (X) 6 10 3 28 6 QUARTERLY.(PERCENT). (X) 7 18 3 31 8 B Withheld because estimate did not meet publication stadards on the basis of sample size. p Preliminary. r Revised. X Not applicable. 1 Houses not reporting type of financing have been distributed proportionally to those reporting type of financing. 2 Includes houses reporting other types of financing. TABLE 11. MEDIAN SALES PRICE OF HOUSES SOLD BY TYPE OF FINANCING (IN DOLLARS) TYPE OF FINANCING VA RURAL TOTAL FHA GUARAN- CONVEN- HOUS. SOLD/1 INSURED TEED TIONAL/2 SERV. CASH ANNUAL DATA 1995................ 133,900 95,900 107,000 148,500 71,000 127,000 1996................ 140,000 99,900 108,000 155,000 76,800 140,000 1997\p.............. 145,500 106,000 116,000 160,000 84,900 143,000 QUARTERLY DATA 1995 1ST QUARTER......... 130,000 96,900 102,000 145,000 56,000 120,500 2ND QUARTER......... 133,900 95,000 107,000 150,000 77,200 130,000 3RD QUARTER......... 132,000 93,900 107,500 145,000 75,500 124,600 4TH QUARTER......... 138,000 98,500 110,900 150,000 (S) 130,300 1996 1ST QUARTER......... 137,000 97,000 104,000 151,300 73,000 147,000 2ND QUARTER......... 139,900 100,000 113,900 153,900 80,600 130,000 3RD QUARTER......... 140,000 100,000 105,000 151,900 75,100 135,000 4TH QUARTER......... 144,100 104,700 108,600 155,800 (S) 146,400 1997 1ST QUARTER......... 145,000 100,000 115,000 162,700 (S) 138,000 2ND QUARTER......... 145,800 108,500 112,000 160,000 92,000 142,000 3RD QUARTER\r....... 145,000 100,000 124,000 159,000 (S) 145,900 4TH QUARTER\p....... 143,000 112,200 116,900 157,600 102,500 142,300 AVERAGE RELATIVE STANDARD ERRORS ANNUAL.....(PERCENT) 2 3 6 2 13 2 QUARTERLY..(PERCENT) 2 6 9 4 3 3 See footnotes at end of table. TABLE 11. AVERAGE SALES PRICE OF HOUSES SOLD BY TYPE OF FINANCING (IN DOLLARS) TYPE OF FINANCING VA RURAL TOTAL FHA GUARAN- CONVEN- HOUS. SOLD/1 INSURED TEED TIONAL/2 SERV. CASH ANNUAL DATA 1995................ 158,700 100,700 112,800 173,800 75,700 154,900 1996................ 166,400 105,700 112,600 182,100 84,100 169,600 1997\p.............. 175,700 108,000 117,400 191,000 88,800 178,600 QUARTERLY DATA 1995 1ST QUARTER......... 153,500 100,700 111,600 169,300 59,000 143,700 2ND QUARTER......... 158,900 99,500 113,500 175,700 75,900 156,200 3RD QUARTER......... 157,700 99,600 112,900 172,100 84,200 151,900 4TH QUARTER......... 160,900 103,200 112,500 174,300 (S) 156,500 1996 1ST QUARTER......... 161,100 102,900 112,100 177,600 80,800 166,700 2ND QUARTER......... 166,000 105,600 115,800 180,400 86,200 180,000 3RD QUARTER......... 164,000 106,700 109,800 178,800 86,500 155,100 4TH QUARTER......... 171,000 108,800 113,900 183,700 (S) 172,900 1997 1ST QUARTER......... 172,200 104,600 116,700 189,800 (S) 170,300 2ND QUARTER......... 177,200 110,900 113,000 192,900 93,300 169,200 3RD QUARTER\r....... 174,700 105,100 122,900 188,100 (S) 188,900 4TH QUARTER\p....... 174,900 113,600 117,700 188,700 89,100 180,200 AVERAGE RELATIVE STANDARD ERRORS ANNUAL....(PERCENT). 2 2 2 2 7 4 QUARTERLY.(PERCENT). 2 2 6 2 7 5 p Preliminary. r Revised. S Withheld because estimate did not meet publication standards on the basis of response rate, associated standard error, or a consistency review. 1 Includes houses not reporting type of financing. 2 Includes houses reporting other types of financing. Table 12. 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 118.1/p 117.1 119.3 118.9 119.4/p 107.0/p 123.0/p 115.7/p 120.8/p p Preliminary. r Revised. Table 12A. Price Index 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 118.3/p 116.4 118.6 118.2 118.6/p 105.9/p 122.6/p 116.4/p 120.5/p p Preliminary r Revised. Table 13. 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\p 170,500 3.3 175,700 5.6 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 13. 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/p 171,000 0.4 174,900 0.1 p Preliminary. r Revised. X Not applicable. 1 Derived from unrounded figures. Table 14. 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/p 206,500 1.8 235,800 4.3 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/p 167,300 3.4 170,300 7.2 See footnotes at end of table. Table 14. 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/p 147,700 3.4 150,800 4.6 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/p 190,100 3.2 198,400 6.6 p Preliminary. r Revised. X Not applicable. 1 Derived from unrounded figures.