New home sales increased in December — a sign that new residential sales have continued to rebound in recent months. Last month, new home sales increased by 2.3% to a seasonally adjusted annual rate of 616,000, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD).

But while mortgage rates have been tumbling down, and while builders have been offering incentives to buyers, it wasn’t enough to prop up new residential sales across 2022. 

In addition, the median sales price of new houses that were sold details ⇒

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