New single-family home sales rose in December, hitting 664,000 sales, according to the U.S. Census Bureau, up 8% from November and up 4.4% from December 2022. A total of 668,000 newly built homes were sold in 2023, 4.2% higher than 2022.
"Given the low supply of existing homes coming on the for-sale market, new construction has helped to fill gaps," a Zillow analysis found. "As a result, sales of newly built homes have increased in the past year while existing-home sales fell. The recent decline in mortgage rates at the end of the year coupled with a steady supply of newly built homes is supporting new home sales."
See other articles related to: new home sales
This article originally published at https://dc.urbanturf.com/articles/blog/new_home_sales_rise_in_december/21900.
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