Tag Archive for ‘sales’

Eye on the Economy: Home Sales Surge after Slow First Quarter

Housing news continued to improve as pending home sales surged following a slow first quarter. Home prices also continued to move higher but at a more moderate pace, suggesting the extra push caused by investors may be slowing. Economic news, however, was mixed. Consumer confidence increased in response to improving labor market conditions. On the other hand, new estimates from… Read More ›

New Home Sales Jump in May

New single-family home sales reached the highest pace in six years in May. According to estimates from the Census Bureau and the Department of Housing and Urban Development, new home sales were at a seasonally adjusted annual rate of 504,000 in May, a gain of 18.6% over a slightly downwardly revised April (425,000). The May 2014 rate of sales is… Read More ›

New Home Sales Steady

The rate of new home sales increased 6.4% in April from an upwardly revised March to 433,000 virtually matching the first quarter average of 434,000 (seasonally adjusted annual rate). The 26,000 monthly increase was entirely due to a 27,000 increase in sales in the Midwest region. However, the monthly and regional data are subject to significant variability so it is… Read More ›

First Quarter: Sources of New Home Sales Financing

The share of new single-family home sales purchased using Federal Housing Administration (FHA) backed mortgages continued to fall at the start of 2014. According to data from the Census Bureau’s Quarterly Sales by Price and Financing, the onset of the housing crisis in 2007 led to a decline in the share of new home sales due to conventional mortgage financing and increases in… Read More ›

New Home Sales Falter

Census and HUD reported March new home sales were down 14.5% in March to a seasonally-adjusted annual basis of 384,000, the lowest level since July 2013. Three of the four regions also saw a decline while the Northeast saw a small (3,000 homes) increase. The US is down year-over year by 13.3% and all four regions also experienced an annual… Read More ›

New Home Sales by Financing: Falling FHA Share

The share of new single-family home sales purchased using conventional mortgage financing is rising, as the share of Federal Housing Administration (FHA) backed mortgages fell during 2013. According to data from the Census Bureau’s Quarterly Sales by Price and Financing, the onset of the housing crisis in 2007 led to a decline in the share of new home sales due to conventional mortgage… Read More ›

New Home Sales Take a Breather

Census and HUD reported new home sales for December were down7% to an annual rate of 414,000. The first estimate of 2013 annual sales rate shows sales advancing 16.4% and the highest since 2008. In addition, the fourth quarter new homes sales were virtually the same as the second quarter of 2013. The NAHB/Wells Fargo Housing Market Index showed a… Read More ›

New Home Sales Steady

New home sales for November declined a statistically insignificant 2.1% from an unusually high October.  The average for the first two month of the fourth quarter is the highest since mid-2008.  The previous three months were also revised upward by a total of 88,000 sales.  The report was mixed regionally with the Northeast and West rising 15.2% and 31.1% respectively. … Read More ›

New Home Sales Up

The October new home sales report from Census and HUD showed a 25% increase over a low September level.  Both months were reported late and together because of the government closer in early October.  The 444,000 level reported for October brings sales back to the levels that were established earlier this year.  All four regions showed significant increases returning to… Read More ›

Sources of New Home Sales Financing

While the sources of finance for new home sales have changed noticeably since the start of the Great Recession, cash sales remain more common for existing homes compared to new construction. According to data from the Census Bureau’s Quarterly Sales by Price and Financing, the onset of the housing crisis in 2007 led to a decline in the share of new… Read More ›