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32. 1997 Economic Census
NA Not available.
1 Excludes homes not yet sold.
2 Prior to 1996, Farmers Home Administration.
3 Included with "Conventional" financing.
4 Included with floor area of 2,000 to 2,399 square feet.
Source: U.S. Census Bureau and U.S. Dept. of Housing and Urban Development, Current Construction Reports, series C25, New One-Family Houses Sold, monthly, and Characteristics of New Housing, annual.
http://www.census.gov/const/www/index.html * Definitions
Bathroom. For the purposes of this survey, a full bath-room is one that has a wash basin, a toilet, and either a bathtub or shower, or a combination of bathtub and shower. A half bathroom is one that has either a toilet, bathtub, or shower, but not all the facilities to be classified as a full bathroom. If the respondent reported a full bathroom and two half bathrooms, the house is classified as a two-bathroom house.
Bedroom. A bedroom is a finished room specifically designed to be used for sleeping. A den, a space in the attic, or a basement which could be converted to a bed-room are not counted as bedrooms.
Contractor-built houses. This category includes all houses built for owner occupancy on owners land with construc-tion under the supervision of a single general contractor.
Contractor price. The contract price used in this survey for contractor-built houses is the price on the original contract awarded to the general contractor. The contract price does not reflect any subsequent changes in the price resulting from change orders or from any other factors affecting the price of the house. It does not include the cost of any contracts awarded to a different contractor for work on the grounds around the house, nor does it include any proposed expenditures on the house after construction is completed by the general contractor. Finally, because the house is being built for the owners occupancy on his own land, the contract price does not include the cost of the land.
The median contract price is equal to the middle point of all contract prices reported. The point is chosen so that half the contract prices of houses started are below the median and half are above the median. The average, or arithmetic mean, contract price is obtained by dividing the sum of all contract prices by the number of houses reporting contract prices.
Financing, type of. The type of financing tabulated in this survey is the type reported at the time the original sales agreement was signed or deposit accepted. However, changes in the type of financing do occur between the original contract signing and final settlement. These changes are not reflected in the tables.
The FHA and VA type-of-financing data presented tend to differ from those published directly by those agencies. For the actual number of FHA-insured and VA-guaranteed loans made for new houses at the time of final settlement, refer to the publications of the respective agencies. The data differ because of the difference in time periods between the signing of the original sales contract, the start of construction, and the insurance or guarantee of the mortgage, as well as the sampling variability in this survey.
Early in 1995 the Farmers Home Administration was reorganized. As part of this reorganization the Rural Hous-ing Service now handles the mortgage functions formerly done by the Farmers Home Administration.
Fireplace (indoor). An indoor fireplace is defined as an open recess in a chimney in which a fire may be built. Included are those made of masonry, tile, metal, or other permanently installed materials that are a fixed and integral part of the building.
Floor area. For this survey, floor area is defined as all completely finished floor space, including space in base-ments and attics with finished walls, floors, and ceilings. In concept, measurement is based on exterior dimen-sions. Measurements are taken to the outside of exterior walls for detached houses. Half stories are measured to the outside of enclosing partitions. Row houses are mea-sured from the centerline of party walls to the outside surface of the exterior walls. For purposes of this survey, where the floor area for a new house was reported based on interior dimensions, the figure was converted to exterior dimensions by multiplying by a standard conversion factor of 1.08. A standard conversion factor of 1.04 was used to convert figures to exterior dimensions where it was not known whether the reported area was based on exterior or interior dimensions.
Heat pump. Heat pump refers to a heating/cooling system which utilizes indoor and outdoor coils, a compressor, and refrigerant to pump hot air in during the winter and out during the summer. Only heat pumps that are centrally installed with ducts to the rooms are included in this category.
Housing unit. A housing unit is defined as a single room or group of rooms intended as separate living quarters by a family, by a group of unrelated persons living together, or by a person living alone. Separate living quarters are those in which the occupants do not live and eat with any other persons in the structure and which have direct access from the outside of the building or through a common hall which is used or intended to be used by the occupants of another unit or the general public.
In addition to single-family detached houses, the definition of single-family houses also includes those townhouses attached together in groups of two or more which are partitioned from each other by a ground-to-roof wall. Also, these units must not share heating/air-conditioning systems or interstructural public utilities, such as water supply, power supply, or sewage disposal lines. New houses sold. The category, houses sold, includes all houses for which a sales contract has been signed or a deposit accepted. This includes houses for which a sales contract is signed or deposit accepted before construction is actually started; for instance, houses sold from a model or from plans before any work is started on the footings or foundations. It also includes houses sold while under construction or after completion; that is, houses built on speculation. Owner-built houses. This category includes houses built for owner occupancy, on owners land, under the supervi-sion of the owner acting as his own general contractor: (1) in most cases built partly by owner and partly with paid help; (2) sometimes built entirely with the employment of subcontractors; and (3) in a smaller number of cases, on a do-it-yourself basis.
Sale. The sale of the new house occurs with the signing of a sales contract or the acceptance of a deposit. This survey does not follow through to the final stage of the sales transaction. Land must be included in the transaction.
Sales price. The sales price used in this survey is the price agreed upon between purchaser and seller (and reported by the latter) at the time the first sales contract is signed or deposit is made for the house. The sales price does not reflect any subsequent price changes resulting from change orders or from any other factors affecting the price of the house. Furthermore, the sales price does not include the cost of any extras or options paid for in cash by the purchaser or otherwise not included in the original sales price reported by the seller.
Story. That portion of a building between the floor and the ceiling or roof, or the next floor above in the case of a multistory house. A basement is not counted as a story even if it is finished as a den or recreation room. Houses referred to as bi-levels or split foyers are classified as two-story houses.
Half story. A story finished as living accommodations located wholly or partly within the roof frame is consid-ered a half story; it is tabulated in this survey as a whole story; for example, one and one-half stories is counted as two.
Split level. Identifies a structure having floors on more than one level when the difference in some floor levels is less than one story. This definition is interpreted on the basis of local custom and may vary from area to area.
These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.
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