New-Home Sales Sink in December

New-home sales sank in December, with sales of new, single-family homes down 9.3 percent to 625,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $398,900, while the median was $335,400. New-home listing inventory was 295,000—5.7-months supply.
“December’s drop in new-home sales was not unexpected,” says Joseph Kirchner, senior economist at realtor.com®. “After sales skyrocket