If there’s one housing market metric that paints a brighter picture than the rest, it’s New Home Sales information from the Census Bureau. At 745,000, it reduced slightly from an upwardly-revised annual rate of 758,000, however was higher then the pre-revision reading of 737k, and 3.8% above December 2024’s 718,000. Relatively chunky revisions are foregone conclusion with this data. The chart below shows pre-revision numbers (therefore the small uptick with the present release).
For-sale stock was up to 472,000, down 2.7% from November and 3.5% lower than a year earlier. At the existing sales pace, that represents a 7.6-month supply, slightly below November’s 7.7 months and down from 8.2 months in December 2024. While supply remains elevated compared to the tightest periods of the past cycle, it continues to trend lower as sales hold company.
Prices moved higher on a monthly basis but showed combined signals year-over-year. The median list prices increased to $414,400 (+4.2% MoM; -2.0% YoY), while the typical cost edged approximately $532,600 (+0.5% MoM; +4.7% YoY). The divergence recommends a continued tilt toward higher-end transactions lifting the average.
- 2025 Overall Sales: 679,000 (down 1.1% from 2024’s 686,000)
- Stock (YoY): -3.5%
- Months’ Supply (YoY): -7.3%
- Previous Month Context: November sales were up 15.5% from October’s modified 656,000