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New Home Inventory Rises 58% Year-Over-Year

New Home Inventory Rises 58% Year-Over-Year

New home sales finished the year less spectacularly than they started it, but the 11.9 percent month-over-month increase was the best since last March. The U.S. Census Bureau and Department of Housing and Urban Development reported that newly constructed homes sold during the month at a seasonally adjusted annual rate of 811,000 compared to a revised rate of 725,000 (from the 744,000 originally reported) in November. The December sales were 14.0 percent below the annual rate of 943,000 in December 2020. Sales rose the following month to 993,000 which proved to be the high point for 2021. [newhomesall] Analysts polled by both Econoday and Trading Economics had forecast the month’s sales at an annual rate of 760,000 units. Predictions from Econoday ranged from 710,000 to 800,000
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