US new home sales slipped in December

US new home sales slipped in December

Sales of new homes in the United States fell in December from November, the Commerce Department reported Friday, but the entire year came in nearly 20 percent over 2011, as the housing sector recovers from a deep crash.

December sales came in at an annual pace of 369,000, down from 398,000 in November but still at a pace better than most of the year.

The median price for homes sold gained 1.3 percent, to $248,900, $30,300 higher than a year earlier.

Altogether in 2012, the department estimated, 367,000 new homes were sold, 19.9 percent more than in 2011.

“Month-to-month volatility aside, the upward trend in new home sales continues,” said Lindsey Piegza of FTN Financial.

“As consumers continue to clean off their balance sheets and buy into ‘the housing market is stabilizing’ mentality, demand continues to filter in.”

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