United States - House Price Value for New Homes

United States: House Price Value for New Homes

Mnemonic HPLN.IUSA
Unit USD, SA
Adjustments Seasonally Adjusted
Monthly 6.48 %
Data Feb 2023 442,651
Jan 2023 415,728

Series Information

Source U.S. Census Bureau (BOC)
Release New Residential Sales (C25)
Frequency Monthly
Start Date 1/31/1963
End Date 2/28/2023

United States: Real Estate

Reference Last Previous Units Frequency
Building Completions Feb 2023 1,557 1,388 Ths., SAAR Monthly
House Price Value for Existing Homes Feb 2023 384.19 385.56 Ths. USD, SA Monthly
House Price Value for New Homes Feb 2023 442,651 415,728 USD, SA Monthly
Residential Building Permits Feb 2023 1,524 1,339 Ths. #, SAAR Monthly
Residential Housing Starts Feb 2023 1,450 1,321 Ths. #, SAAR Monthly
House Price Index 2022 Q4 623.66 628.55 Index 1980Q1=100, NSA Quarterly
Dwelling Stocks 2021 142,153 140,805 Ths. # Annual

Release Information

The U.S. Census Bureau (BOC) reports monthly sales of new single-family houses in the United States. The dataset includes average sales price, median sales price, count of homes sold within specific price ranges, by stage of construction, and by type of financing.

  • Measurements:
    • U.S. dollars (USD)
    • Thousands of units (Ths, #)
  • Adjustments:
    • Seasonally adjusted annualized rate (SAAR)
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequencies:
    • Monthly
    • Quarterly
  • Start date: As early as 1963m1
  • Geo coverage:
    • Country
    • Census region (4, C^^R)

The source writes:

New One-Family Houses Sold reports are released six weeks after the reference month. Included are estimates, and revisions for previous months, of new houses sold and for sale at the national and census region level, average and median sale prices, and sale prices by type of financing. The data have been collected monthly since 1959; reported data are for building or sales activity taking place during the prior calendar month. Data collection begins the first day after the reference month and continues for about seven days.

Telephone or personal interviews of about 10,000 builders or owners of about 15,000 selected building projects. To provide nationwide coverage of building activity, a multi-stage stratified random sample procedure is used to select some 820 building permit-issuing offices and a sample of more than 70 land areas not covered by building permits.

Each month, a sample of residential building permits is selected from each of the permit offices. The probability of selecting a permit is proportional to the number of units authorized by the permit. All permits authorizing buildings with 5 or more housing units are selected. Each month, field representatives road canvass each of the non-permit land areas to identify new buildings, and all new buildings found are selected for the survey.

Once a permit or building is selected, its owner or builder is contacted by telephone or personal interview each month. Contact continues until the project is completed, abandoned, or sold.

Each month housing starts, completions and sales rates, derived from this survey, are multiplied by the total number of authorized housing units (obtained from the building permits survey) to develop national and regional estimates. Estimates are adjusted to reflect variations by region and type of construction, and account for houses started without or in advance of a permit. Reported data are seasonally adjusted.

New residential sales are counted when a contract is intially signed for a new privately owned-single family property. After this, the property is not counted again, regardless of what happens after the intital sale, such as foreclosure, flip, etc. REOs are not included in the new residential sales data because they are obtained by lenders through unsuccessful foreclosure autctions. However, if an investor initially bought the property (not through a foreclosure auction), this is included in the sales count.

Further reading

At the source: