From more than 600 pages of tables published by the Census Bureau/Department of Housing and Urban Development (HUD) concerning home building in 2013, nationalmortgagenews.com has determined of the 569,000 new homes built last year, only 429,000 were sold, although the remainder likely sold in Q1 of 2014. However, the total is far above the 483,000 built in 2012 and even more than the 447,000 built in 2011, which is the fewest completed since the beginning of the recession. Regionally, the South experienced the most finished at 296,000, followed by 129,000 built in the West, 96,000 in the Midwest and only 48,000 in the Northeast.

The most affordable homes were sold in the Midwest, where 84 percent of the homes went for under $400,000, closely followed by the South at 83 percent. These two regions also showed the most homes sold for less than $125,000. In addition, MHProNews.com has learned the size of single-family homes increased slightly in 2013 over 2012, as the average square feet rose from 2,505 to 2,598. ##

(Photo credit: Sue Orgocki/Associated Press–new single-family home)