Bureau of the Census For Release 10:00 A.M. EST, March 2, 1999 Steve Berman (301) 457-1321 CB99-44 Dale R. Jacobson (301) 457-1336 JANUARY 1999 NEW HOUSING SALES AT ANNUAL RATE OF 918,000 Sales of new one-family houses in January 1999 were at a seasonally adjusted annual rate of 918,000 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 5 (+/- 8) percent below the revised December rate of 966,000, but 8 (+/- 9) percent above the January 1998 rate of 848,000. The median sales price of new houses sold in January 1999 was $157,000; the mean sales price was $190,200. At the end of January, the seasonally adjusted estimate of new houses for sale was 302,000. This represents a supply of 4.0 months at the current sales rate. New Home Sales data for February 1999 will be released on March 29, 1999, at 10:00 A.M. EST. EXPLANATORY NOTES This press release is available on the date of issue through: 1. Commerce Department's STAT-USA/FAX service. For more information call (202) 482-1986. 2. the Internet at ftp.census.gov or www.census.gov. 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 occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range contains zero, it is uncertain whether there was an increase or decrease; that is, the change is not statistically significant. The January 1999 issue of CURRENT CONSTRUCTION REPORTS, C25/99-1, 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. 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 1999 United North- Mid- Period States east west South West Seasonally adjusted annual rate 1996- January 714 47 146 307 213 February 769 57 137 346 228 March 721 51 132 329 209 April 736 60 128 326 222 May 746 54 141 354 198 June 721 77 122 320 202 July 770 84 133 343 209 August 826 82 173 364 207 September 770 89 130 343 208 October 720 77 117 334 191 November 771 77 127 354 213 December 805 88 148 350 220 1997- January 821 108 138 374 200 February 816 100 124 387 205 March 823 92 125 370 236 April 757 85 133 335 204 May 754 81 141 339 192 June 790 67 150 355 218 July 806 66 149 352 239 August 822 76 140 382 224 September 823 67 133 378 244 October 816 71 143 371 229 November 860 85 164 382 229 December 791 78 147 355 211 1998/r- January 848 73 156 398 221 February 887 94 199 354 240 March 836 91 172 351 223 April 880 89 155 413 222 May 893 97 145 380 271 June 909 75 167 427 239 July 883 72 156 420 235 August 836 74 157 370 234 September 861 77 178 385 221 October 903 76 176 393 259 November 1002 92 166 445 299 December 966 83 177 454 251 1999 - JANUARY(p) 918 77 133 437 271 AVG. RSE(%) 4 16 13 6 6 Not seasonally adjusted 1997 804 78 140 363 223 1998/r 887 81 164 399 243 AVG. RSE(%) 2 6 7 3 4 1998 - January 64 5 10 32 17 October(r) 69 6 13 31 20 November(r) 71 7 12 32 20 December(r) 61 5 11 30 15 1999 - JANUARY(p) 69 5 9 35 20 AVG. RSE(%) 4 16 13 6 6 Number of houses in thousands. (p) Preliminary. (r) Revised. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. YTD - Avg. Relative Standard Error for the current period and the same period last year. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). TABLE 1B. NEW ONE-FAMILY HOUSES FOR SALE AT END OF PERIOD AND MONTHS SUPPLY AT CURRENT SALES RATE: JANUARY 1999 Seasonally adjusted Not Seasonally adjusted Houses Months Houses for sale Months for supply supply Period sale (1) (1) United States United North- Mid- South West States east west 1997 (X) (X) 287 26 65 127 69 (X) 1998 (X) (X) 302 28 63 142 68 (X) AVG. RSE(%) (X) (X) 3 10 6 4 6 (X) 1998 - January 282 4.0 282 27 62 126 67 4.4 February 282 3.8 277 25 61 128 63 3.7 March 285 4.2 281 24 59 132 67 3.5 April 287 3.9 286 24 61 133 68 3.5 May 287 3.9 284 23 61 134 65 3.5 June 286 3.8 287 23 63 134 68 3.4 July 283 4.0 284 23 61 130 70 3.8 August 285 4.2 283 23 60 131 69 3.8 September 289 4.1 291 24 61 137 69 4.3 October(r) 293 4.0 296 25 64 138 69 4.3 November(r) 292 3.6 292 25 62 138 68 4.1 December(r) 297 3.8 302 28 63 142 68 4.9 1999 - JANUARY(p) 302 4.0 302 28 63 142 68 4.4 AVG. RSE(%) 3 5 3 9 8 5 5 5 Number of houses in thousands. (p) Preliminary. (r) Revised. (X) Not applicable. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). TABLE 2. MEDIAN AND AVERAGE SALES PRICE: JANUARY 1999 Period Median Average 1997 146,000 176,200 1998/r 152,000 181,600 AVG. RSE(%) 2 2 1998 - January 148,000 178,600 October(r) 154,500 182,800 November(r) 151,000 177,200 December(r) 151,300 181,600 1999 - JANUARY(p) 157,000 190,200 AVG. RSE(%) 3 3 Dollars. Includes value of improved lot. (p) Preliminary. (r) Revised. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). Source: Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $30.00. 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) 457-1321. 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/r............... 887 228 336 323 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\r.... 69 19 27 23 NOVEMBER\r... 71 20 27 24 DECEMBER\r... 61 17 24 21 1999: JANUARY\p.... 69 17 27 25 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 2 4 3 5 MONTHLY (PERCENT).... 4 7 5 10 See footnotes at end of table. TABLE 3. HOUSES SOLD AND FOR SALE, BY STAGE OF CONSTRUCTION - CONTINUED (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING) FOR SALE AT END OF PERIOD UNDER CONSTRUC- TOTAL COMPLETED TION NOT STARTED 1995................. 374 123 199 52 1996................. 326 101 185 40 1997................. 287 92 161 34 1998/r............... 302 72 186 44 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\r.... 296 76 181 39 NOVEMBER\r... 292 73 185 35 DECEMBER\r... 302 72 186 44 1999: JANUARY\p.... 302 72 186 43 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT)..... 3 4 3 6 MONTHLY (PERCENT).... 3 5 4 4 p Preliminary. r Revised. TABLE 4. HOUSES SOLD BY SALES PRICE (THOUSANDS OF HOUSES. COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING.) NUMBER OF HOUSES/1 PERIOD 80000 100000 120000 150000 200000 UNDER TO TO TO TO AND TOTAL 80000 99999 119999 149999 199999 OVER 1995................ 667 58 101 99 144 127 138 1996................ 757 59 104 101 159 160 175 1997................ 804 51 93 103 173 177 207 1998/r.............. 887 41 92 113 184 208 250 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\r... 69 3 7 9 13 16 21 NOVEMBER\r.. 71 3 7 9 16 17 19 DECEMBER\r.. 61 4 5 7 14 15 16 1999: JANUARY\p... 69 3 7 8 15 16 20 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 7 5 6 5 5 5 MONTHLY (PERCENT)... 4 20 15 11 9 8 8 See footnotes at end of table. TABLE 4. HOUSES SOLD BY SALES PRICE - CONTINUED (COMPONENTS MAY NOT ADD TO TOTAL BECAUSE OF ROUNDING. PERCENTS COMPUTED FROM UNROUNDED FIGURES) PERCENT DISTRIBUTION/2 PERIOD 80000 100000 120000 150000 200000 UNDER TO TO TO TO AND 80000 99999 119999 149999 199999 OVER 1995................ 9 15 15 22 19 21 1996................ 8 14 13 21 21 23 1997................ 6 12 13 21 22 26 1998/r.............. 5 10 13 21 23 28 MONTHLY DATA 1996: JANUARY..... 8 18 15 20 19 20 FEBRUARY.... 9 14 14 20 20 22 MARCH....... 8 14 13 22 20 22 APRIL....... 7 16 11 21 23 22 MAY......... 9 12 14 22 22 21 JUNE........ 8 13 14 22 22 22 JULY........ 7 12 14 22 23 23 AUGUST...... 8 14 15 21 20 21 SEPTEMBER... 11 15 12 20 17 26 OCTOBER..... 7 12 13 22 22 24 NOVEMBER.... 7 14 12 22 20 25 DECEMBER.... 7 13 13 20 22 26 1997: JANUARY..... 6 13 13 22 21 25 FEBRUARY.... 7 13 13 21 20 26 MARCH....... 8 11 14 18 23 25 APRIL....... 7 10 13 20 23 28 MAY......... 6 13 13 22 22 24 JUNE........ 5 12 12 24 20 27 JULY........ 6 12 13 21 22 26 AUGUST...... 6 13 14 21 24 23 SEPTEMBER... 6 12 12 21 23 25 OCTOBER..... 5 11 15 23 21 24 NOVEMBER.... 6 13 12 22 22 25 DECEMBER.... 7 10 11 23 23 25 1998: JANUARY..... 4 12 14 21 22 27 FEBRUARY.... 4 10 15 17 23 31 MARCH....... 4 10 12 21 25 27 APRIL....... 5 11 13 23 22 26 MAY......... 5 11 13 19 24 28 JUNE........ 6 12 12 22 22 26 JULY........ 6 10 14 20 21 28 AUGUST...... 5 10 12 21 22 30 SEPTEMBER... 3 10 12 21 27 26 OCTOBER\r... 5 11 13 18 23 30 NOVEMBER\r.. 4 9 12 23 24 27 DECEMBER\r.. 6 8 11 24 25 27 1999: JANUARY\p... 4 11 11 21 24 29 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 7 5 6 5 5 5 MONTHLY (PERCENT)... 20 14 10 8 7 7 See footnotes at end of table. TABLE 4. HOUSES SOLD BY SALES PRICE - CONTINUED (IN DOLLARS) MEDIAN AVERAGE PERIOD SALES SALES PRICE PRICE 1995................ 133,900 158,700 1996................ 140,000 166,400 1997................ 146,000 176,200 1998/r.............. 152,000 181,600 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\r... 154,500 182,800 NOVEMBER\r.. 151,000 177,200 DECEMBER\r.. 151,300 181,600 1999: JANUARY\p... 157,000 190,200 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 2 2 MONTHLY (PERCENT)... 3 3 p Preliminary. r Revised. 1 Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported. 2 Total equals 100 percent. Note: The sales price includes the price of the developed lot. TABLE 5. MEDIAN NUMBER OF MONTHS ON SALES MARKET (HOUSES NOT STARTED ARE EXCLUDED. MEDIANS ARE COMPUTED FROM UNROUNDED FIGURES) HOUSES SOLD HOUSES FOR SALE MEASURED MEASURED FROM MEASURED FROM FROM MONTH OF START MONTH OF START MONTH OF COMPLETION NOT NOT NOT SEASONALLY SEASONALLY SEASONALLY SEASONALLY SEASONALLY ADJUSTED ADJUSTED ADJUSTED ADJUSTED ADJUSTED ANNUAL DATA 1995............... 4.3 (X) 5.3 (X) 5.5 1996............... 4.2 (X) 4.8 (X) 4.6 1997............... 3.7 (X) 4.9 (X) 4.3 1998/r............. 3.5 (X) 4.0 (X) 5.0 MONTHLY DATA 1996: JANUARY...... 4.7 4.0 5.5 5.2 5.7 FEBRUARY.... 4.5 4.0 5.7 5.0 5.7 MARCH....... 4.4 4.3 5.8 5.3 5.5 APRIL....... 4.2 4.1 5.6 5.3 5.7 MAY......... 4.4 4.5 5.4 5.3 5.8 JUNE........ 4.3 4.8 4.9 5.2 5.4 JULY........ 4.2 4.4 4.5 4.9 4.9 AUGUST...... 3.4 3.6 4.4 4.8 5.0 SEPTEMBER... 4.1 4.6 4.5 4.8 4.8 OCTOBER..... 4.0 4.4 4.5 4.7 4.4 NOVEMBER.... 4.3 4.0 4.5 4.7 4.6 DECEMBER.... 4.4 4.2 4.8 4.8 4.6 1997: JANUARY..... 4.8 4.2 5.1 4.9 4.9 FEBRUARY.... 4.5 4.1 5.3 4.8 4.8 MARCH....... 3.9 3.8 5.4 4.9 4.8 APRIL....... 4.1 4.2 5.2 4.8 4.6 MAY......... 3.8 3.8 4.7 4.6 4.7 JUNE........ 2.7 3.0 4.4 4.7 4.6 JULY........ 3.4 3.7 4.3 4.7 4.6 AUGUST...... 3.1 3.4 4.4 4.8 4.2 SEPTEMBER... 3.2 3.5 4.4 4.7 4.2 OCTOBER..... 3.4 3.6 4.4 4.7 4.0 NOVEMBER.... 3.8 3.7 4.6 4.8 3.9 DECEMBER.... 3.8 3.6 4.9 4.9 4.3 1998: JANUARY..... 4.3 3.6 5.1 4.8 4.9 FEBRUARY.... 4.2 3.8 5.3 4.8 5.3 MARCH....... 3.6 3.6 5.1 4.6 5.8 APRIL....... 3.9 3.8 4.5 4.2 5.9 MAY......... 2.7 2.7 4.2 4.2 5.5 JUNE........ 3.2 3.5 3.8 4.1 5.3 JULY........ 3.5 3.6 3.9 4.3 5.1 AUGUST...... 3.1 3.4 4.0 4.3 5.2 SEPTEMBER... 3.5 3.9 3.9 4.2 5.2 OCTOBER\r... 3.1 3.3 4.0 4.2 4.8 NOVEMBER\r.. 3.5 3.4 3.9 4.0 5.1 DECEMBER\r.. 3.9 3.7 4.0 4.0 5.0 1999: JANUARY\p... 3.7 3.2 4.2 3.9 5.3 AVERAGE RELATIVE STANDARD ERRORS ANNUAL (PERCENT).... 3 (X) 5 (X) 7 MONTHLY (PERCENT)... 9 9 6 6 14 p Preliminary. r Revised. X Not applicable. Table 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\r 121.0 121.0 122.3 123.4\r 110.9\r 125.4\r 118.8\r 123.6\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 121.5\r 120.3 120.3 121.6 122.7\r 110.7\r 124.7\r 120.4\r 122.9\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/r 2.6/r 181,300 2.9 QUARTERLY DATA 1977: First quarter 64,200 (X) 51,600 (X) Second quarter 67,400 5.0 54,300 5.2 Third quarter 68,700 1.9 54,000 -0.6 Fourth quarter 72,700 5.9 57,500 6.5 1978: First quarter 73,900 1.7 59,300 3.1 Second quarter 76,700 3.8 61,600 3.9 Third quarter 79,800 4.0 63,500 3.2 Fourth quarter 82,200 3.1 66,400 4.4 1979: First quarter 84,800 3.1 68,300 2.9 Second quarter 89,500 5.6 72,400 6.0 Third quarter 91,000 1.6 74,200 2.5 Fourth quarter 94,600 3.8 72,700 -2.0 1980: First quarter 96,200 1.8 73,600 1.2 Second quarter 97,600 1.5 74,400 1.1 Third quarter 100,100 2.5 77,500 4.2 Fourth quarter 100,600 0.5 80,000 3.2 1981: First quarter 105,200 4.5 80,900 1.1 Second quarter 106,600 1.3 84,300 4.2 Third quarter 106,700 0.1 83,800 -0.6 Fourth quarter 107,600 0.9 83,700 -0.1 1982: First quarter 110,000 2.2 81,200 -3.0 Second quarter 109,500 -0.4 85,700 5.5 Third quarter 108,600 -0.9 83,900 -2.1 Fourth quarter 107,700 -0.8 84,600 0.8 1983: First quarter 110,200 2.3 86,700 2.5 Second quarter 110,600 0.4 89,100 1.8 Third quarter 112,300 1.6 92,500 3.8 Fourth quarter 112,200 -0.1 90,800 -1.8 1984: First quarter 113,200 0.9 94,700 4.3 Second quarter 115,700 2.2 99,200 4.8 Third quarter 116,900 1.0 98,500 -0.7 Fourth quarter 118,000 0.9 97,800 -0.7 Table 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/r 0.9/r 179,400 -2.7 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/r 3.8/r 239,100 2.1 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/r 1.5/r 178,300 3.1 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/r 3.3/r 158,100 4.4 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/r 2.0/r 201,200 1.5 p Preliminary. r Revised. X Not applicable. 1 Derived from unrounded figures. 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) 457-1321