US sales of new one-family houses in December 2008 were at a seasonally adjusted annual rate of 331,000 - - the lowest mark since 412,000 in 1982 - - according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 14.7 percent below the revised November of 388,000 and is 44.8 percent below the December 2007 estimate of 600,000. Meanwhile, US workers filing claims for jobless benefits extending more than one week has jumped to a record high.
The median sales price of new houses sold in December 2008 was $206,500; the average sales price was $246,900. The seasonally adjusted estimate of new houses for sale at the end of December was 357,000. This represents a supply of 12.9 months at the current sales rate.
An estimated 482,000 new homes were sold in 2008. This is 37.8 percent below the 2007 figure of 776,000.
Jobless Claims Surge
The total number of US workers filing claims for jobless benefits extending more than one week has jumped to a record high, a US Labor Department report showed today - - signaling a deep recession.
New claims for state unemployment benefits remained at a 25-year high last week.
Initial claims for jobless benefits rose 3,000 to 588,000 after seasonal adjustments in the week ended Jan. 24th, the Labor Department said in a weekly report. The previous week was revised down slightly and last week's total was just 1,000 below the high reached during the 1982 recession, which was reached last month.
The four-week average of new claims, which aims to smooth volatility in the data, jumped 24,250 to 542,500.
A Labor Department analyst said that there was "nothing terribly unusual" affecting the latest figures.
