The trend in the number of new homes sold in the U.S. continues to fall. According to the U.S. Census Bureau's data on new home sales, the falling trend began after sales peaked in November 2020.
The market capitalization of U.S. new homes last peaked in December 2020 at $30.12 billion, a figure that has now been finalized with the latest revisions. Since that time, the market capitalization has fallen back from that level, but its overall trend has generally ranged between $28.84 billion and its December 2020 peak.
That outcome for the market cap of new homes is possible because the average sale price of new homes has continued to escalate, even as the number of sales falls.
Within the raw data, the number of new home sales has ticked up during the past two months, but not by enough to affect the general trend at this time.