New home sales rebounded in March as an unexpected February downturn corrected.
That’s according to data from the U.S. Census Bureau and the Department of Housing and Urban Development, which reported sales rising by 8.8% to a seasonally adjusted annual rate of 693,000, an increase from the month priors’ revised rate of 637,000.
Sales were up 8.3% from the same time last year.
The increase reverses a surprise downturn the month prior that took analysts by surprise, the first bad news in three months. Existing inventory saw a bump and, being generally cheaper and more attractive to buyers, took a greater share. But as rates keep rising, more and more homeowners are delaying selling, putting new construction front and center.…
New home sales improved YOY in January despite elevated rates and higher prices, though didn’t hit the mark on analysts’ expectations.
That’s according to data from the U.S. Census Bureau and the Department of Housing and Urban Development, which reported sales up by 1.5% from December to a seasonally adjusted annual rate of 661,000, a jump from the month priors’ revised rate of 651,000.
New home sales were up 1.8% from the same time last year.
While the report is good news, the numbers fell short of experts’ predictions. A survey of economists by Bloomberg predicted a rate of 684,000.
There were 456,000 new homes for sale at the end of the month. This represents an 8.3-month supply at the…
New home sales spiked in December as cooling rates encouraged purchase-shy buyers to make the leap.
That’s according to data from the U.S. Census Bureau and the Department of Housing and Urban Development, which reported sales up by 8% from October to a seasonally adjusted annual rate of 664,000, a jump from the month priors’ revised rate of 615,000.
December saw rates cool to the mid-6’s, a process that began in November but needed time to bear out fully. The data suggests potential buyers who were cautious at first eventually came to terms with slightly lower rates and jumped into the market.
New home sales were up 4.4% from the same time last year.
There were 453,000 new homes for…
New home sales sprang back to life in September, according to newly released data from the U.S. Census Bureau and the Department of Housing and Urban Development.
Sales rose by 12.3% from August to a seasonally adjusted annual rate of 759,000. This is well above the rate of 680,000 units predicted by economists.
The median price for a new home was $418,800, while the average sales price was $503,900, both down.
But the increase may not hold over as the end of the year approaches, bringing with it historically lower-volume months.
“While the overall number of potential homebuyers is down, ‘patience’ seems to be the mantra for those still in the market, and lenders would do well to follow suit,…
New home sales sank in August as homebuyers faced soaring prices and rates, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development.
Sales declined by 8.7% to a seasonally adjusted annual rate of 675,000. They were up 5.8% from the same time last year, however.
The seasonally adjusted estimate of new houses for sale was 436,000, representing a supply of 7.8 months at the current sales rate.
The median price for a new home was $430,300, down from the month prior, while the average sales price was $514,000, up slightly.
Newly built homes cost about as much as existing homes now thanks to inventory shortages, and they’re accounting for more of the…
New home sales jumped in May as homebuilders continue to experience a boom, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development.
Sales rose by 12.2% to a seasonally adjusted annual rate of 763,000, compared to April’s 680,000. They were up 20% from the same time last year, which saw an annualized rate of just 636,000.
The seasonally‐adjusted estimate of new houses for sale was 428,000, down from last month and representing a supply of 6.7 months at the current sales rate.
The median sales price for a new home was $416,300, while the average sales price was $487,300.
Homebuilders are working overtime to accommodate surging demand. Americans still want to buy…
New home sales increased slightly month-over-month in February but remain down significantly from last year, according to new estimates from the U.S. Census Bureau and the Department of Housing and Urban Development.
Sales rose by 1.1% to a seasonally adjusted annual rate of 640,000, slightly less than economists’ expectations of 650,000. Bloomberg call this an “unexpected” rise after a downward revision in January, saying it may herald some stability after a wild year.
Sales remain down 19% YOY.
The seasonally‐adjusted estimate of new houses for sale was 436,000, representing a supply of 8.2 months at the current sales rate.
Newly built homes are gaining popularity as the supply of existing homes continues to cause trouble. Zillow says homebuyers are growing…
New home sales rose in August to a seasonally adjusted annual rate of 685,000, up 28.8% from July’s revised rate but down 0.1% YOY, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. The seasonally‐adjusted estimate of new houses for sale at the end of August was 461,000, representing a supply of 8.1 months at the current sales rate. The median sales price of a new home was $436,800, while the average sales price was $521,800. The data comes on the heels of a surprise increase in mortgage applications last week, despite rates rising to their highest point since October 2008. “As with the swings in rates and other uncertainties around the housing…
New home sales fell to a four-month low in March to a seasonally adjusted annual rate of 763,000, down 8.6%, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. The massive dropoff can be attributed to the rising cost of buying a home. Home price appreciation and increasing interest rates are pricing potential buyers out of the market. Between rates and prices, monthly mortgage payments are 19.5% higher than they were three months ago and 38% higher than a year ago. Meanwhile, some sellers are opting not to put their homes up for sale, exacerbating the stock shortage and driving up competition. The seasonally‐adjusted estimate of new houses for sale at the end…
