U.S. New Home Sales Decline Sharply, Inventory Rises

Sales of newly built homes in the U.S. Experienced a significant drop in January, falling 17.6% month-over-month to a seasonally adjusted annualized rate of 587,000 units, according to data released by the U.S. Census Bureau. This marks the slowest pace of sales since 2022, exceeding analysts’ expectations of a more moderate decline.

Recent Sales Data and Revisions

The January sales figure also represents an 11.3% decrease compared to January 2025. December sales figures were also revised downward. The data reflects signed contracts, meaning they are based on purchasing decisions made when mortgage rates were lower than current levels.

Mortgage Rates and Inventory Levels

The average rate for a 30-year fixed mortgage hovered between 6% and 6.2% during January, according to Mortgage News Daily, and currently stands at 6.36% as of March 20, 2026. This increase in rates has contributed to a rise in the inventory of homes for sale, reaching a 9.7-month supply in January, up from eight months in December. This represents a 7.8% increase year-over-year.

Price Adjustments by Builders

The combination of increased supply and decreased demand has prompted builders to lower prices. The median sales price of a new home in January was $400,500, a 6.8% decline year-over-year. Builders are also increasingly offering incentives to attract buyers.

Regional Variations

While sales declined across the nation, the most significant drops were observed in the Northeast and Midwest. However, even in the West, where weather conditions were not a factor, sales fell nearly 22% from December.

Historical Census Data Availability

Individual census records from 1790 to 1950 are maintained by the National Archives and Records Administration. The U.S. Census Bureau has collected population data every 10 years since 1790 and continues to do so. Records from the 1960 to 2020 censuses are available to the individual named in the record or their heir by submitting form BC-600 or BC-600SP.

Blaine, Minnesota Population Growth

As of 2020, Blaine, Minnesota had a population of 70,222, making it the 10th largest city in the state. Over the past two decades, Blaine has experienced an average annual population increase of approximately 1,000 residents, with projections indicating continued growth to between 85,000 and 90,000 residents.