New home sales in the South jumped 10.6% to end 2023, according to the the latest data from the Census Bureau.
- M-O-M: Sales of new single‐family houses in the South rose to a seasonally adjusted annual rate of 419,000 in December, up 10.6% from November but still the second lowest level in the last four months.
- Y-O-Y: New home sales were up 3.3% when compared to the same time last year.
Two-Thirds. New home sales in the South were 63.1% of all new home sales across the country.
Nationally. Sales of new single‐family houses across the country rose to a seasonally adjusted annual rate of 664,000 in December, up 8.0% from November and is up 4.4% from the same time last year.
- Price. The median sales price of new houses sold was $413,200 in December, down 3.0% from November and the lowest level since December 2021.
- Inventory. The seasonally‐adjusted estimate of new houses for sale at the end of December was 453,000, up 0.8% from November and the highest level since November 2022. There was 8.2 months of supply at the current sales rate in December, down November’s 8.2 but still the third highest level all year.