The median sales price of new homes rose to $446,300 in January, while the average price reached $510,000. The uptick in prices, despite lower sales volumes, may reflect a shift in buyer preferences toward higher-end properties or regional price differences. It also indicates resilience in home values, though sustained inventory growth could limit future price gains.
Regional Performance Varies
Regional data reveals significant discrepancies in sales trends. The Northeast saw the steepest decline, with sales plummeting 20% from December and a staggering 48.1% year-over-year drop. The Midwest and South also exper