The housing market saw a strong close to 2024 with 698,000 new homes sold in December, a 6.7% year-over-year increase. Hereās what you need to know:
Key Highlights:
Sales Volume: An estimated 683,000 homes were sold in 2024, up 2.5% from 2023.
Prices: Median sales price hit $427,000, with the average price at $513,600.
Inventory: At the end of December, there were 494,000 homes for sale, equating to an 8.5-month supply.
Market Implications:
Builder Stocks: Homebuilders like D.R. Horton and PulteGroup are well-positioned to benefit from rising demand.
Interest Rates: Strong sales may push the Fed to maintain higher rates longer, impacting affordability.
Economic Health: Housing is a leading indicator, and strong demand signals resilience in consumer spending.
Why It Matters:
New home sales are more than just numbersātheyāre a window into economic strength and consumer confidence. Whether youāre an investor or a prospective buyer, these trends impact your wallet and your future.
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