Sales of new single-family houses in December 2017 were at a seasonally adjusted annual rate of 625,000, 9.3% below the revised November rate of 689,000 but 14.1% above the December 2016 estimate of 548,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

An estimated 608,000 new homes were sold in 2017. This is 8.3% above the 2016 figure of 561,000.

The median sales price of new houses sold in December 2017 was $335,400. The average sales price was $398,900.

The seasonally-adjusted estimate of new houses for sale at the end of December was 295,000. This represents a supply of 5.7 months at the current sales rate.