Tag Archive for new homes

New Home Sales Beat Expectations

December 27, 2013 Housing Market Comments Off on New Home Sales Beat Expectations

According to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development, new home sales fell 2.1 percent in November from October’s pace. Despite the dip, sales of newly built, single-family homes are now 16.6 percent above last year’s estimate. And though November’s pace slipped, October’s previously reported rate was revised upward by 30,000, making that month’s pace a post-recession high. August and September’s sales rates were also revised upward by a total of 58,000. With those revisions, November’s rate – while slower than October – still beat economists’ expectations for the month. The new data indicates that the housing recovery is on track and buyers have largely adjusted to higher prices and mortgage rates. The median sales price of new houses sold in November was $270,900; the average sales price was $340,300. There was a 4.3 month supply of new homes available for sale at the end of the month. More here.

Builder Confidence Unchanged in November

November 22, 2013 Housing Market Comments Off on Builder Confidence Unchanged in November

Conducted for the past 25 years, the National Association of Home Builders Housing Market Index gauges builders’ perception of the market for newly built, single-family homes. Results are scored on a scale where any number above 50 indicates more builders view conditions as good than poor. The survey asks builders for their view of current sales, sales expectations for the next six months, and buyer traffic. This month’s results showed no change from the month before, holding steady at 54. Rick Judson, NAHB’s chairman, said given the current interest rate and pricing environment, consumers continue to show interest in purchasing new homes. But, according to Judson, Congress has failed to make critical decisions on budget, tax, and spending issues, which has eroded consumer confidence and caused some potential buyers to hold back. More here.

New Home Market Strong Among Buyers Over 55

November 12, 2013 Housing Market Comments Off on New Home Market Strong Among Buyers Over 55

A recent survey of builders shows increasing confidence in the market for new homes among buyers over the age of 55. According to the National Association of Home Builders’ latest 55+ Housing Market Index, significant gains were made in the third quarter as compared to the third quarter of last year. The index found confidence in the market for single-family homes, rose 14 points to its highest third-quarter number since the survey began in 2008. It also represents the eighth straight quarter of year-over-year increases. Robert Karen, chairman of NAHB’s 50+ Housing Council, said there has been steady improvement in the 55+ housing sector as buyers are attracted to new homes and communities that offer the lifestyle they desire. All components of the survey gauging interest in single-family homes experienced double-digit increases over last year. The survey asks builders to rate current sales, expected sales, and traffic of prospective buyers on a scale where any number over 50 indicates more builders view market conditions as good than poor. More here.

New Home Sales Rebound In August

September 27, 2013 Uncategorized Comments Off on New Home Sales Rebound In August

Sales of new single-family homes spiked in August, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales were up 7.9 percent above July’s rate and 12.6 percent above last year’s estimates. The improvement is a welcome change following a nearly 14 percent plunge in July, which was the largest drop in more than three years. And, though August’s estimates fell slightly below economists’ expectations, the late summer lull has been caused by temporary factors, according to analysts. Merrill Lynch, for example, is forecasting that builders will sell 438,000 new homes this year and that sales will rise by more than 20 percent next year. The government report also showed that the median sales price of new houses sold in August was $254,600; the average sales price was $318,900. There is a 5-month supply of new homes available for sale at the current sales rate. More here and here.

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