New Home Sales 2022: Data, Chart & Trends
Abstract
New Home Sales, commonly referred to as "New residential sales," is an economic indicator that tracks the sale of newly constructed residences. New home sales are completed when a sales contract or deposit is signed or accepted. New Home Sales Data & Chart 2022 The surprising uptick in sales of new single-family houses in the United States in May is likely to be short-lived as home prices continue to rise and the average contract rate for a 30-year fixed-rate mortgage hits 6 percent, decreasing affordability. Despite the increase in sales during the month of May, high home prices and mortgage rates near 6 percent are anticipated to continue to hinder sales in the coming months. The number of new single-family homes is expected to rise by 1.5%. Despite rising mortgage rates, a lack of inventory, and weakening buyer mood, existing-home sales declined in May. The total number of existing-home sales fell 3.4 percent to 5.41 million units, the fourth consecutive monthly fall. New Home Sales Data New home sales data is published monthly by the US Bureau of Census. New Residential Sales data provides statistics on the sales of new privately-owned single-family residential structures in the United States.
