Tag: new home sales

New Home Sales Drop in May as Housing Costs Continue to Rise

Filed in Economics by on June 23, 2021 0 Comments
New Home Sales Drop in May as Housing Costs Continue to Rise

New home sales fell to the lowest pace in a year, with prices jumping 18% on a year-over-year basis, due to the high costs and uncertain availability of building materials, lots and labor. Sales of newly built, single-family homes fell 5.9% in May to a 769,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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New Home Sales Soften in April with Growing Housing Affordability Concerns

Filed in Economics, Housing Affordability by on May 25, 2021 12 Comments
New Home Sales Soften in April with Growing Housing Affordability Concerns

Rising building materials costs and low inventory have caused new home sales prices to jump 20% on a year-over-year basis, harming housing affordability and driving down the pace of new home sales. Sales of newly built, single-family homes fell 5.9%, following a significant downward revision of the March estimate, to a 863,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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New Home Sales Jump in March on High Consumer Demand

Filed in Economics by on April 23, 2021 2 Comments
New Home Sales Jump in March on High Consumer Demand

Low interest rates and strong consumer demand fueled a solid increase in new home sales in March, despite the ongoing building materials challenges impacting the industry. Sales of newly built, single-family homes rose 20.7% from an upwardly revised February number, to a 1.02 million seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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February Home Sales Down on Rising Material Costs, Interest Rates

Filed in Economics, Material Costs by on March 23, 2021 19 Comments
February Home Sales Down on Rising Material Costs, Interest Rates

Higher interest rates, supply shortages and rising material prices, particularly for lumber, put a damper on new home sales in February. Sales of newly built, single-family homes in February fell 18.2% to a 775,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the lowest level since last May.

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New Home Sales Higher in January, Yet Supply Side Concerns Remain

Filed in Economics by on February 24, 2021 2 Comments
New Home Sales Higher in January, Yet Supply Side Concerns Remain

Strong demand stemming from low interest rates, favorable demographics and a suburban shift for home building to smaller, more affordable housing markets helped to lift new home sales in January. But rising lumber and material costs threaten to blunt this momentum.

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Affordability and Lack of Supply Put a Dent in New Home Sales

Filed in Economics by on December 23, 2020 4 Comments
Affordability and Lack of Supply Put a Dent in New Home Sales

New home sales dipped in November, but remained at a solid level as builders struggled to meet demand and gain access to building materials.

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September New Home Sales Pause Following Strong Summer Surge

Filed in Economics by on October 26, 2020 3 Comments
September New Home Sales Pause Following Strong Summer Surge

Sales of newly built, single-family homes in September fell 3.5% to 959,000 from a downwardly revised August number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly decline, the September rate is 32.1% higher than the September 2019 pace, and on a year-to-date basis, new home sales are up 16.9% in 2020.

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New Home Sales at Highest Pace Since Sept. 2006

Filed in Economics by on September 24, 2020 3 Comments
New Home Sales at Highest Pace Since Sept. 2006

In another indicator that housing continues to lead the economy forward, sales of newly built, single-family homes in August topped the 1 million mark and reached their highest pace since September 2006. Sales increased 4.8% to a seasonally adjusted annual rate of 1.01 million units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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New Home Sales Reach Highest Level Since Great Recession

Filed in Economics by on July 24, 2020 2 Comments
New Home Sales Reach Highest Level Since Great Recession

In a sign that the housing market is leading the economy during the coronavirus outbreak, sales of newly built, single-family homes rose to their highest level since the Great Recession, up 13.8% to a seasonally adjusted annual rate of 776,000 units in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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New Home Sales Jump in May as Housing Rebound Continues

Filed in Economics by on June 23, 2020 5 Comments
New Home Sales Jump in May as Housing Rebound Continues

In a further sign that the housing market is rebounding from the COVID-19 pandemic, sales of newly built, single-family homes rose 16.6% to a seasonally adjusted annual rate of 676,000 units in May from a downwardly revised reading in April, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The May rate is 12.7% higher than the May 2019 pace.

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