Following a strong fall and early winter, it appears national new home sales have begun to falter. According to the U.S. Census Bureau and the Department of Housing and Urban Development’s monthly report, new home sales were down 4.5 percent in January compared to the month prior.
Sales of new single‐family houses in January 2022 were at a seasonally adjusted annual rate of 801,000, below the revised December rate of 839,000 and 19.3 percent below the January 2021 estimate of 993,000 homes.
The average sales price of new houses sold nationally last month was $496,900.