US New Home Sales Decline -19.3% YoY As Mortgage Rates Rise (Median Price Of New Home Sales UP 13.4% YoY) – Confounded Interest

US new home sales declined -19.3% YoY in January as mortgage rates have risen awfully fast.

On a MoM basis, US housing starts declined -4.53% from December, but heck … its winter. The median price for new homes rose 7.03% from December.

Median price of new home sales YoY is now 13.4% thanks to limited available inventory for sale.