The U.S. new home market continued shrinking in December 2021. Political Calculations' initial estimate of the overall market capitalizaton of the U.S. new home market for December 2021 is $26.14 billion. That figure is 13.2% below the December 2020 peak of $30.12 billion.
For December 2021, there were two notable developments. First, the number of new home sales rose slightly from the previous month, breaking what had been a steady decline. Second, the average sale price of the new homes sold declined, confirming the reversal of what had been a rising trend in recent months.
The following two charts visualize the trailing twelve month averages of the U.S. new home market's underlying annualized sales and average price data.
New home sales saw a slight increase:
New home sale prices fell significantly:
In December 2021, the effect of falling average sale prices outweighed the slight increase in number of sales. Consequently, the market cap for the U.S. new home market continued its now year-long decline.
Labels: market cap, real estate
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