For release 10:00 AM EST, March 3, 1998 CB98-32 JANUARY 1998 NEW HOUSING SALES AT ANNUAL RATE OF 877,000 Sales of new one-family houses in January 1998 were at a seasonally adjusted annual rate of 877,000, 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 10 (+/-9) percent above the revised December 1997 rate of 795,000, and 8 (+/-9) percent above the revised January 1997 rate of 811,000. The median sales price of new houses sold in January 1998 was $148,000; the mean sales price was $179,600. At the end of January the seasonally adjusted estimate of new houses for sale was 282,000. This represents a supply of 3.9 months at the current sales rate. New Home Sales data for February 1998 will be released on March 30, 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 1998 issue of CURRENT CONSTRUCTION REPORTS, C25/98-1, will include explanations of confidence intervals and sampling variability. Changes in seasonally adjusted statistics often show irregular movement. It takes 4 months to establish an underlying 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: JANUARY 1998 United North- Mid- Period States east west South West Seasonally adjusted annual rate 1995/r - January 626 64 107 282 173 February 559 58 110 265 126 March 616 62 122 267 165 April 621 55 128 266 173 May 674 54 121 288 211 June 725 77 131 299 219 July 765 54 134 378 198 August 701 49 138 309 206 September 678 36 132 305 206 October 696 54 131 314 198 November 664 46 130 298 189 December 709 83 125 306 195 1996/r - January 711 47 145 310 209 February 771 61 136 344 229 March 710 52 133 320 206 April 749 61 125 335 227 May 746 58 137 348 204 June 733 78 129 324 202 July 775 84 132 347 212 August 815 80 163 363 209 September 758 84 132 338 204 October 713 73 120 330 190 November 783 80 124 364 215 December 807 80 158 358 210 1997/r - January 811 108 135 372 196 February 817 106 124 381 207 March 823 94 128 364 237 April 762 87 132 335 208 May 764 89 135 341 199 June 810 69 157 363 221 July 808 68 149 355 236 August 799 72 133 372 222 September 809 61 133 379 236 October 805 64 141 364 235 November 877 93 165 389 230 December 795 73 164 358 200 1998 - JANUARY(p) 877 72 162 405 238 AVG. RSE(%) 5 15 12 7 8 Not seasonally adjusted 1996 757 74 137 337 209 1997/r 803 78 140 363 222 AVG. RSE(%) 2 6 7 3 4 1997 - January 61 7 9 29 15 October(r) 62 5 11 28 18 November(r) 61 6 12 27 16 December(r) 50 5 9 23 12 1998 - JANUARY(p) 67 5 11 32 19 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: JANUARY 1998 Seasonally adjusted/r 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/r (X) (X) 286 26 64 127 69 (X) AVG. RSE(%) (X) (X) 3 10 6 4 6 (X) 1995 - January 341 6.8 February 346 7.3 March 346 6.8 April 348 6.7 May 349 6.3 June 348 5.8 July 344 5.6 DATA NOT REVISED August 350 6.1 September 353 6.3 October 359 6.3 November 366 6.8 December 370 6.4 1996 - January 369 6.5 February 354 5.2 March 368 6.3 April 369 6.0 May 363 5.8 DATA NOT REVISED June 355 5.9 July 351 5.6 August 343 5.1 September 331 5.3 October 328 5.6 November 327 5.1 December 322 5.0 1997 - January 307 4.7 309 34 65 137 73 5.1 February 300 4.3 296 30 63 132 71 4.3 March 288 4.4 284 28 63 126 67 3.5 April 291 4.6 289 28 65 129 67 4.1 May 289 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 4.3 284 28 62 127 68 4.0 September 284 4.3 285 27 65 125 68 4.3 October/r 284 4.3 287 27 66 126 68 4.6 November/r 280 3.9 281 26 64 124 67 4.6 December/r 281 4.4 286 26 64 127 69 5.7 1998 - JANUARY(p) 282 3.9 283 27 62 127 67 4.2 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: JANUARY 1998 Period Median Average 1996 140,000 166,400 1997(r) 145,900 175,800 AVG. RSE(%) 2 2 1997 - January 145,000 171,900 October(r) 141,500 172,900 November(r) 145,000 175,500 December(r) 143,000 173,600 1998 - JANUARY(p) 148,000 179,600 AVG. RSE(%) 4 3 Dollars. Includes value of improved lot. (NA) Not available. (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: $35.00. 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 3 through 8 of the January 1998 Current Construction Report, Series C25, "New One-Family Houses Sold." The data found in tables 1 and 2 of the report are found in the above press release tables and are not shown again below. 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\r............... 803 236 296 272 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\r.... 62 18 24 20 NOVEMBER\r... 61 18 24 19 DECEMBER\r... 50 13 18 18 1998: JANUARY\p.... 67 20 23 24 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\r............... 286 92 160 34 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\r.... 287 91 163 33 NOVEMBER\r... 281 92 158 31 DECEMBER\r... 286 92 160 34 1998 JANUARY\p.... 283 86 161 37 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 3 4 3 6 MONTHLY (PERCENT..... 3 4 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\r.............. 803 51 94 104 173 177 205 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... 67 4 8 8 14 15 17 OCTOBER\r... 62 3 7 9 14 13 15 NOVEMBER\r.. 61 4 8 7 13 13 15 DECEMBER\r.. 50 4 5 6 12 11 12 1998: JANUARY\p... 67 3 9 9 13 15 17 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\r.............. 6 12 13 21 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... 6 12 12 21 23 25 OCTOBER\r... 5 11 15 23 21 24 NOVEMBER\r.. 7 13 12 22 22 25 DECEMBER\r.. 8 10 13 24 21 24 1998: JANUARY\p... 5 13 14 20 22 26 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\r.............. 145,900 175,800 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\r... 141,500 172,900 NOVEMBER\r.. 145,000 175,500 DECEMBER\r.. 143,000 173,600 1998 JANUARY\p... 148,000 179,600 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. 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/r ADJUSTED ADJUSTED/r ADJUSTED ANNUAL DATA 1995............... 4.3 (X) 5.3 (X) 5.5 1996............... 4.2 (X) 4.8 (X) 4.6 1997\r............. 3.7 (X) 4.9 (X) 4.3 MONTHLY DATA 1995: JANUARY...... 4.7 4.1 5.3 5.0 4.3 FEBRUARY.... 4.4 4.0 5.6 5.1 4.5 MARCH....... 4.5 4.4 5.8 5.2 4.8 APRIL....... 4.7 4.7 5.9 5.5 4.8 MAY......... 4.9 5.0 5.8 5.7 4.9 JUNE........ 4.3 4.8 5.6 5.9 5.1 JULY........ 4.6 4.8 5.3 5.7 5.1 AUGUST...... 3.9 4.4 5.0 5.4 5.2 SEPTEMBER... 4.0 4.2 5.1 5.4 5.4 OCTOBER..... 3.8 4.2 5.0 5.3 5.5 NOVEMBER.... 4.3 4.2 5.0 5.2 5.4 DECEMBER.... 4.2 3.8 5.3 5.2 5.5 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\r... 3.4 3.6 4.4 4.7 4.0 NOVEMBER\r.. 3.8 3.7 4.6 4.8 4.0 DECEMBER\r.. 3.8 3.6 4.9 4.9 4.3 1998: JANUARY\p... 4.6 3.9 5.1 4.8 4.9 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 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/r 117.1 119.3 118.9 119.4/r 107.5/r 123.3/r 115.8/r 120.8/r p Preliminary. r Revised. Table 6A. 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 118.4/r 116.4 118.6 118.2 118.7/r 106.6/r 122.9/r 116.5/r 120.4/r p Preliminary 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\r 170,600 3.4 175,800 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 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\r 0.5\r 174,900 0.1 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\r 2.4\r 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 167,600\r 3.6\r 170,300 7.2 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\r 3.5\r 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 190,100\r 3.2\r 198,400 6.6 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: $35.00. 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) 457-4666.