Is 122 volts for a house high?

No, 122 volts for a house is not high. It is a nominal figure in the same 120 voltage range. It is brought about by the power company, as they have a responsibility to keep voltages within a certain 10% range. The load will only notice a difference of 1% on the load current. e.g. Wattage load of 2400. Amps = watts/volts. 2400/240V = 10 amps. 2400/220V = 10.9 amps. On a constant resistance as the voltage goes lower, the current goes higher and vice versa as the voltage goes higher, the current goes lower.