【World Property Journal】New Home Sales in U.S. Uptick in December

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in December 2020 rose 1.6 percent to an 842,000 seasonally adjusted annual rate, from a downwardly revised November 2020 reading.

Higher home prices stemming from rising lumber and other building material costs as well as a lack of inventory due to a shortage of buildable lots offset solid demand for new home sales in December. Despite a brief slowing in sales activity toward the end of the year, new home sales in 2020 posted a strong 18.8 percent gain over 2019.

"Sales growth continues in lower cost, lower density markets," said Chuck Fowke, chairman of the National Association of Home Builders. "Indeed, the Midwest posted a 24 percent sales gain in 2020. Looking forward, builders are concerned that increased regulatory burdens in 2021 could hurt housing affordability."

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