Market Outlook
US New Home Sales Crash -14% YoY In December As Median Price Slows To +3.4% YoY (Mortgage Applications Decline As Mortgage Rates Increase) – Confounded Interest
![](https://analisagold.com/wp-content/uploads/2022/01/nhsyou-736x470.png)
US new home sales spiked in December by 11.9% from November, but were down 14% year-over-year.
![](https://confoundedinterestnet.files.wordpress.com/2022/01/nhsyou.png?w=736)
But the median price of new home sales (YoY) declined to 3.4%.
![](https://confoundedinterestnet.files.wordpress.com/2022/01/medac.png?w=736)
The Midwest saw a surge in new home sales (+56%).
![](https://confoundedinterestnet.files.wordpress.com/2022/01/nhsdata.png?w=736)
The MBA’s mortgage applications index shows declining purchase applications (-1.83%) and declining refinancing applications (-12.60%) as mortgage rates increased from 3.64% to 3.72% for the week of 01/21.
![](https://confoundedinterestnet.files.wordpress.com/2022/01/mbastates.png?w=736)
Now, mortgage purchase applications rose for the week of 01/21 if we used non-seasonally adjusted data.
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