Keyword: new home sales
New home sales continue to edge up, rise 8.9 percent from 2010
New home sales up According to the U.S. Census Bureau, new home sales rose 1.3 percent in October from September and are up 8.9 percent from October 2010, and although the rate fell short of economists’ forecasts, improvement in the hardest hit sector is welcomed by new home builders in any form. The month ended with a 6.3 month supply ...
New home sales improve in September, inventory levels remain low
New home sales up Sales of new single family homes improved in September, rising 5.7 percent after falling slightly in August, according to the U.S. Census Bureau. While August saw a rise over the year prior, September saw a drop of 0.9 percent from September 2010. September ended with a 6.2 month supply at the current rate of sale with ...
New home sales up in all regions, inventory at historic lows
New home sales The new home sector has been hit extremely hard by the recession but the U.S. Commerce Department’s April data is finally good news after consistently negative reports on all fronts for many months. Sales of new single family homes rose 7.3% in April which is the best pace in five months. All regions rose in April led ...
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New home sales drop from 2010 but rise from February
New home sales U.S. Census Bureau data released this morning shows good news for new home sales, one of the hardest hit sectors in the real estate market. Last month, sales hit their lowest point since recording began, along with starts, permits and prices. Despite dropping 22% in volume from March 2010 to March 2011, sales of new single family ...
Home builder construction spending down, expensive land may save builders
Construction spending is down According to the Department of Commerce, construction spending dropped 1.4% in February for a third month in a row of declining spending. The value of all projects is at its lowest since October 1999 and the spending pace is at its weakest point since April 1997. Homebuilders’ construction spending decreased 3.7% and new home sales, permits, ...
New home sales dip in February to lowest level recorded
New home sales down According to the US Commerce Department, new home sales fell in February 17%, making it the lowest sales since recording began in 1963, and median prices dropped 14%, hitting their lowest level in over eight years. Sales dipped almost 30% from February 2010. When will the new home sector rebound? Economists are not in agreement as ...
New home sales round out a complex news week in real estate
In the rollercoaster that is housing news this week, home prices reach new lows in nine cities and are down to their lowest levels since March. housing starts are down and permits are up and builder confidence rates are stable. Today, the US Commerce Department announced a jump in new home sales of 17.5%, the best month the new home ...
Why the real estate sector needs a Black Friday of its own
According to the National Association of Realtors, the number of home sold fell 2.2% in October from September and fell 25.9% from September 2009. Although median home prices remained level from September 2009, roughly a third of all sales were distressed homes. The U.S. Commerce Department reports that new home sales dropped 8.1% from September and nearly 30% from September ...
Home builder confidence levels hold steady in November
After dipping a bit in October, Builder confidence is back up to where it was in September. Headlines read that builder confidence is up, we’d like to think of it as builder confidence bouncing subtly at the bottom as they struggle to obtain financing and keep interest as they compete with the perception that short sales and foreclosures are better ...
Is the new home sector improving or declining?
With housing data released by the U.S. Commerce Department, the status of the new home sector remains similar to last month’s data with some minor changes. Builders (like any other real estate related sector) have been highly impacted by the slumping economy, namely with obtaining funds and moving product. But while other sectors sink lower, starts are up 4.4% in ...
New home sales data for May shocks the real estate industry
New homes versus existing homes In contrast with existing home sales which appear to be stabilizing, the new home sector is experiencing a decline. Just yesterday, it was announced that housing starts are down 17.2% (the slowest pace since May 2009), new home production is down 10% (the slowest pace since December 2009) and permits are down 9.9% in May. ...
New Home Sales Drop Drastically, Time to Reconsider Buying New – Right Now
February 2010 new home sales data While existing-home sales are up 7.0% from February 2009, the U.S. Census Bureau reports today that sales of new single-family homes dropped 2.2% from January 2010 and a drastic 13.0% from February 2009. The median sales price of new homes in February was $220,500 with a 9.2 month supply. In February, we reported that ...
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