New US Residential Home Sales Increase Month-Over-Month in December

On Thursday (1-26-23), the US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for December were at a SAAR of 616,000, according to estimates. This is 2.3% above the revised November rate of 602,000 but is 26.6% below the December 2021 estimate of 839,000.

An estimated 644,000 new homes were sold in all of 2022. This figure is 16.4% below the 2021 figure of 771,000.

The median sales price of new houses sold in December was $442,100. The average sales price was $528,400.

The seasonally adjusted estimate of new houses for sale at the end of December was 461,000. This represents a 9.0-month supply based on the current rate of sales.

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