New Home Sales in the United States increased to 676 Thousand units in February from 664 Thousand units in January of 2025. This dataset provides the latest reported value for - United States New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The number of home sales in the United States peaked in 2021 at almost seven million after steadily rising since 2018. Nevertheless, the market contracted in the following year, with transaction volumes falling to 4.8 million. Home sales remained muted in 2024, with a mild increase expected in 2025 and 2026. A major factor driving this trend is the unprecedented increase in mortgage interest rates due to high inflation. How have U.S. home prices developed over time? The average sales price of new homes has also been rising since 2011. Buyer confidence seems to have recovered after the property crash, which has increased demand for homes and also the prices sellers are demanding for homes. At the same time, the affordability of U.S. homes has decreased. Both the number of existing and newly built homes sold has declined since the housing market boom during the coronavirus pandemic. Challenges in housing supply The number of housing units in the U.S. rose steadily between 1975 and 2005 but has remained fairly stable since then. Construction increased notably in the 1990s and early 2000s, with the number of construction starts steadily rising, before plummeting amid the infamous housing market crash. Housing starts slowly started to pick up in 2011, mirroring the economic recovery. In 2022, the supply of newly built homes plummeted again, as supply chain challenges following the COVID-19 pandemic and tariffs on essential construction materials such as steel and lumber led to prices soaring.

The number of U.S. home sales in the United States declined in 2023, after soaring in 2021. A total of four million transactions of existing homes, including single-family, condo, and co-ops, were completed in 2023, down from 6.12 million in 2021. According to the forecast, the housing market is forecast to head for recovery in 2025, despite transaction volumes are expected to remain below the long-term average. Why have home sales declined? The housing boom during the coronavirus pandemic has demonstrated that being a homeowner is still an integral part of the American dream. Nevertheless, sentiment declined in the second half of 2022 and Americans across all generations agreed that the time was not right to buy a home. A combination of factors has led to house prices rocketing and making homeownership unaffordable for the average buyer. A survey among owners and renters found that the high home prices and unfavorable economic conditions were the two main barriers to making a home purchase. People who would like to purchase their own home need to save up a deposit, have a good credit score, and a steady and sufficient income to be approved for a mortgage. In 2022, mortgage rates experienced the most aggressive increase in history, making the total cost of homeownership substantially higher. Only 15 percent of U.S. renters could afford to become homeowners and in metros with highly competitive housing markets such as Los Angeles, CA, and Urban Honolulu, HI, this share was below five percent. Are U.S. home prices expected to fall? The median sales price of existing homes stood at 387,000 U.S. dollars in 2023 and was forecast to increase slightly until 2025. The development of the S&P/Case Shiller U.S. National Home Price Index shows that home prices experienced seven consecutive months of decline between June 2022 and January 2023, but this trend reversed in the following months. Despite mild fluctuations throughout the year, home prices in many metros are forecast to continue to grow, albeit at a much slower rate.

The number of new houses sold in the United States took a big hit during the financial crisis, dropping from a high of around 1.3 million houses sold in 2005 to a low of 306 thousand homes sold in 2011 – around a 76 percent decrease. While the economy has largely recovered since the crisis, consumers remained hesitant when it comes to buying homes. In 2020, demand for housing surged and house sales volumes spiked to 822,000. House prices on the rise Unsurprisingly, the median sales price of new homes continues to rise. In fact, many Americans found that they were more interested in buying a home as a result of the pandemic. What types of homes are Americans buying? Undoubtedly, detached single-family houses constitute the majority of home purchases in the U.S. Approximately 88 percent of older Millennials who bought a home in 2022 shared that they bought a detached single-family house. Regardless of the age group, the most popular location to purchase a home is in the suburbs or in a subdivision.

Graph and download economic data for Existing Home Sales (EXHOSLUSM495S) from Feb 2024 to Feb 2025 about headline figure, sales, housing, and USA.

Graph and download economic data for New Houses Sold by Sales Price in the United States, Total (NHSUSSPTQP) from Q1 2020 to Q4 2024 about new, sales, housing, price, and USA.

The average sales price of new homes in the United States experienced a slight decrease in 2024, dropping to 512,2000 U.S. dollars from the peak of 521,500 U.S. dollars in 2022. This decline came after years of substantial price increases, with the average price surpassing 400,000 U.S. dollars for the first time in 2021. The recent cooling in the housing market reflects broader economic trends and changing consumer sentiment towards homeownership. Factors influencing home prices and affordability The rapid rise in home prices over the past few years has been driven by several factors, including historically low mortgage rates and increased demand during the COVID-19 pandemic. However, the market has since slowed down, with the number of home sales declining by over two million between 2021 and 2023. This decline can be attributed to rising mortgage rates and decreased affordability. The Housing Affordability Index hit a record low of 98.1 in 2023, indicating that the median-income family could no longer afford a median-priced home. Future outlook for the housing market Despite the recent cooling, experts forecast a potential recovery in the coming years. The Freddie Mac House Price Index showed a growth of 6.5 percent in 2023, which is still above the long-term average of 4.4 percent since 1990. However, homebuyer sentiment remains low across all age groups, with people aged 45 to 64 expressing the most pessimistic outlook. The median sales price of existing homes is expected to increase slightly until 2025, suggesting that affordability challenges may persist in the near future.

Graph and download economic data for New Houses Sold by Stage of Construction, Not Started (NHSDPNS) from Jan 1963 to Feb 2025 about construction, new, sales, housing, and USA.

The number of new homes sold increased in 2023, after falling in 2022. Considering that the vast majority of purchases were financed through a conventional mortgage, it is of no surprise that the rising mortgage interest rates are one of the main factors for transactions slowing. In fact, more buyers were willing to buy cash in 2023 than in 2021. How has the increase in sales activity influenced house prices? When demand outweighs supply, prices tend to increase. In the United States, the recent spike in house sales has contributed to average house prices growing at a higher pace than in recent years. Furthermore, the rising house price-to-income ratio indicates that homes are becoming less affordable. Has the coronavirus (COVID-19) pandemic affected Americans’ homeownership plans? Overall, the coronavirus (COVID-19) pandemic has positively influenced the homeownership plans of people in the U.S. According to a survey conducted among American adults, 28 percent of Millennials were more interested in buying a home due to the coronavirus pandemic, compared to 13 percent who were less interested.

Graph and download economic data for Housing Inventory: Median Days on Market in the United States (MEDDAYONMARUS) from Jul 2016 to Feb 2025 about median and USA.

In February 2025, approximately 111,100 home construction projects started in the United States. The lowest point for housing starts over the past decade was in 2009, just after the 2007-2008 global financial crisis. Since 2010, the number of housing units started has been mostly increasing despite seasonal fluctuations. Statista also has a dedicated topic page on the U.S. housing market as a starting point for additional investigation on this topic. The impact of the global recession The same trend can be seen in home sales over the past two decades. The volume of U.S. home sales began to drop in 2005 and continued until 2010, after which home sales began to increase again. This dip in sales between 2005 and 2010 suggests that supply was outstripping demand, which led to decreased activity in the residential construction sector. Impact of recession on home buyers The financial crisis led to increased unemployment and pay cuts in most sectors, which meant that potential home buyers had less money to spend. The median income of home buyers in the U.S. fluctuated alongside the home sales and starts over the past decade.

Graph and download economic data for New One Family Houses for Sale in the United States (HNFSUSNSA) from Jan 1963 to Feb 2025 about 1-unit structures, family, new, sales, housing, and USA.

United States New Listings: sa: All Residential: Sweetwater, TX data was reported at 1.000 Unit th in Aug 2018. This stayed constant from the previous number of 1.000 Unit th for Jul 2018. United States New Listings: sa: All Residential: Sweetwater, TX data is updated monthly, averaging 2.500 Unit th from Jul 2012 (Median) to Aug 2018, with 74 observations. The data reached an all-time high of 6.000 Unit th in Mar 2013 and a record low of 1.000 Unit th in Aug 2018. United States New Listings: sa: All Residential: Sweetwater, TX data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB034: New Homes Listed for Sale: by Metropolitan Areas: Seasonally Adjusted.

Graph and download economic data for New Houses for Sale by Stage of Construction, Total (NHFSEPTS) from Jan 1963 to Feb 2025 about construction, new, sales, housing, and USA.

The median sales price of an existing single-family home in the United States reached almost 389,300 U.S. dollars in 2023 – the highest price on record. The sales price has risen year-on-year since 2011, increasing by over 100,000 U.S. dollars between 2019 and 2023. Location, location, location Regional differences in the median sales prices of existing single-family homes were evident across the United States. The cheapest region is the Midwest; the most expensive region is the West. An existing home in the West cost over 100,000 U.S. dollars more than in the Midwest. Prices surge due to housing shortage A lack of properties on the market is one reason why the prices of existing single-family homes are rising across all regions of the United States. The shortage in housing comes despite increases in both the number of new single-family units being authorized by building permits and new single-family housing unit starts. Homebuyers in the United States will have to pay top dollar should they want a new single-family home.

The CoStar Commercial Repeat-Sales Index (CCRSI) for multifamily real estate in the United States started to slow in 2022, after more than a decade of steady growth. The index measures the development of sales prices of multifamily properties, with 2000 chosen as a base year. An index value of 200 means that sales prices have doubled since 2000. In March 2024, the index was the highest in the Northeast region, measuring 519 index points. Meanwhile, the value-weighed index, which favors high-value transactions in core markets, was significantly lower.

United States New Listings: sa: All Residential: Santa Fe, NM data was reported at 207.924 Unit th in Jul 2020. This records an increase from the previous number of 197.050 Unit th for Jun 2020. United States New Listings: sa: All Residential: Santa Fe, NM data is updated monthly, averaging 213.110 Unit th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 279.508 Unit th in Dec 2015 and a record low of 114.325 Unit th in May 2012. United States New Listings: sa: All Residential: Santa Fe, NM data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB034: New Homes Listed for Sale: by Metropolitan Areas: Seasonally Adjusted.

The CoStar Commercial Repeat-Sales Index (CCRSI) for multifamily real estate in the United States started to decline in the second half of 2022, after more than a decade of steady growth. The index measures the development of sales prices of multifamily properties, with 2000 chosen as a base year. An index value of 200 means that sales prices have doubled since 2000. In March 2024, the value-weighed index, which is more representative of the high-value deals in core markets, hit 325 index points, down from a market peak of 416 in June 2022. The equal-weighed index is more influenced by the lower-priced deals that comprise the higher share of transactions. It stood at 438 index points in March 2024, down from a market peak of 503 in June 2022.

United States New Listings: sa: All Residential: Buffalo, NY data was reported at 1,263.978 Unit th in Jul 2020. This records an increase from the previous number of 1,100.545 Unit th for Jun 2020. United States New Listings: sa: All Residential: Buffalo, NY data is updated monthly, averaging 1,132.244 Unit th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 1,340.445 Unit th in Jun 2015 and a record low of 211.941 Unit th in Apr 2020. United States New Listings: sa: All Residential: Buffalo, NY data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB034: New Homes Listed for Sale: by Metropolitan Areas: Seasonally Adjusted.

New Houses Sold by Sales Price in the United States, Between $150,000 and $199,999 was 1.00% in October of 2021, according to the United States Federal Reserve. Historically, New Houses Sold by Sales Price in the United States, Between $150,000 and $199,999 reached a record high of 27.00 in July of 2009 and a record low of 1.00 in April of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for New Houses Sold by Sales Price in the United States, Between $150,000 and $199,999 - last updated from the United States Federal Reserve on March of 2025.