US new home sales jump in December as prices fall
Sales of new single family homes in December rose to their highest level in 10 months as buyers took advantage of lower prices in anticipation of higher interest rates
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sales of new single family homes in December rose to their highest level in 10 months as buyers took advantage of lower prices in anticipation of higher interest rates.
The increase put the seasonally adjusted annual sales pace to 811,000 for the month, according to the Commerce Department an 11.9% increase over November's figure, which was revised down to 725,000 from 744,000.
The median price of a new home, the point where half the homes sold for more and half for less, fell to $377,700, last month, its lowest level since June but about 4% higher than December 2020.
In the months following the pandemic outbreak in the spring of 2020, new home sales exploded as people sought out more space. Besides December's big increase, sales generally declined in the past six months but remain elevated.