Prices of New Houses v. Prices of Existing Houses: Why Sales of New Houses Hang in there as Sales of Existing Houses Plunge

The median price of new single-family houses that were sold in January ticked up from December, but was down by 2.6% from a year ago and by 15.3% from the peak in October 2022 (blue line). At $420,700, the median price was back where it had first been in October 2021...