New Home Sales Rise Slightly, Up 15.2 Percent Year-over-Year

New home sales rose 1.6 percent in December according to Census estimates. The seasonally adjusted annual rate of 842,000 translates into a 15.2 percent increase from December of 2019. The median price of a new home sold in December 2020 was $355,900. The average price was $394,900. The median price of a new U.S. home rose $26,400, or 8 percent in the middle of a global pandemic even as millions of Americans were losing their jobs. If that's not a testament to the power of central bank liquidity, I don't know what is. The inventory [...]