New and Existing Home Sales Reports
NAHB compiles annual, quarterly and monthly (not seasonally adjusted) data for new and existing homes. Additional information is also available in the U.S. Census Bureau’s most recent press release and the methodology of its data compilation.
Regional and National Home Sales Insights
Analyzing regional sales reports provides revealing comparisons of the number of new and existing homes sold within each of the four primary regions of the U.S. This report also details the number of new homes for sale in each region.
Tracking nationwide sales and inventory levels offers key insights about current market conditions and future housing demand. These reports can also serve as early indicators of economic shifts, often triggering changes in consumer behavior.
Driving Factors of Home Sales and Affordability
Rising Home Prices
Arguably the most significant factor for consumers looking to buy a home is price. The median prices report provides a month-by-month account of nationwide sales prices and the percent change from the previous month.
A recent NAHB study estimates that a $1,000 increase in the median new home price ($425,786) would price 140,436 U.S. households out of the market. The number of priced-out households varies across both states and metropolitan areas, largely affected by the sizes of local population and the affordability of new homes.
Among all the states in 2023, Florida registered the largest number of households priced out of the market by a $1,000 increase in the median-priced home in the state (9,573), followed by Texas (9,151), and California (7,243), largely because these three states are the top three populous states.
Higher Mortgage Interest Rates
Elevated mortgage interest rates, together with higher home prices, create affordability challenges, particularly for first-time buyers. NAHB estimates show that in 2023, when the mortgage interest on a 30-year fixed rate rose from 6.25% to 6.5%, nearly 1.3 million households were priced out of the market for a median-priced home.