New US Residential Single-Family Home Sales Up 8.0% Month-Over-Month in December

Posted on January 25, 2024

The US Census Bureau and Department of Housing and Urban Development jointly announced on Thursday (1-25-23) that new residential single-family home sales were at a seasonally adjusted annual rate (SAAR) of 664,000 in December, according to estimates. This is 8.0% above the revised November rate of 615,000 and 4.4% above the December 2022 estimate of 636,000.

An estimated 668,000 new homes were sold in all of 2023, 4.2% above the 2022 new-home sales figure of 641,000.

The median sales price of new houses sold in December was $413,200. The average sales price was $487,300.

The seasonally adjusted estimate of new houses for sale at the end of the month was 453,000. This represents a supply of 8.2 months based on the current rate of sales.

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