December 2024: A Significant Month for US New Home Sales

In an encouraging sign for the US housing market, sales of new single-family homes reached a seasonally adjusted annual rate of 698,000 in December 2024, as reported by the United States Census Bureau and the Department of Housing and Urban Development. This represents a 3.6% increase from the previous month and a notable 6.7% jump compared to the same period last year.

Price Trends and Inventory Insights

The median sales price of new homes sold in December stood at $427,000, with the average sales price slightly higher at $513,600. Additionally, the seasonally-adjusted estimate of new houses available for sale at the end of December was 494,000, indicating an 8.5-month supply at the current sales pace.