Eye On Housing
The pace of new single-family home sales in March was effectively flat, as builders continue to add inventory. According to estimates from the Census Bureau and HUD, new home sales declined 1.5% to a seasonally adjusted annual rate of 511,000 from an upwardly revised February pace. The March rate was 5.4% higher than a year ago. Total inventory rose… Read More ›
The February pace of new home sales was up 2% nationwide, according to estimates published by the Census Bureau and the Department of Housing and Urban Development. At a seasonally adjusted annual rate of 512,000, the February rate posted a slight improvement over the upwardly revised January estimate, which increased from a 494,000 annual rate to 502,000. Since 2011, new… Read More ›
Home building data for January showed declines for new home sales and housing construction. Builder confidence also declined but remains in positive territory. NAHB’s forecast is for continued, modest growth for single-family construction and a slowing of the growth rate for multifamily development in 2016. The NAHB/Wells Fargo Housing Market Index measure of single-family builder sentiment declined three points in… Read More ›
Consumers signed contracts to purchase new homes at an annual rate of 494,000 in January. The monthly number is 9.2% below the December level but the December report was higher than expected. The two month average is 519,000, which is more in line with expectations and trend. Two regions increased and two declined with the West falling 32.1% to 110,000…. Read More ›
NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals an ongoing long-run trend toward conventional mortgages. According to data from the Census Bureau’s Quarterly Sales by Price and Financing and NAHB calculations, new home sales due to FHA-backed loans were effectively unchanged at a quarterly count of 18,000 and a market share of 16% for the fourth… Read More ›
Existing home sales, as reported by the National Association of Realtors (NAR), surged 14.7% in December, including an increase in the first-time buyer share to 32%, the highest share since August. December sales snapped back from a November decline partially attributable to delays in closings from the rollout of the Know Before You Owe mortgage disclosure rule by the Consumer… Read More ›
NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals an ongoing long-run trend toward conventional mortgages. According to data from the Census Bureau’s Quarterly Sales by Price and Financing and NAHB calculations, new home sales due to FHA-backed loans decreased to a quarterly count of 19,000 and a market share of 16% for the third quarter…. Read More ›
Contracts for new home sales disappointed in September, after a strong August and a run of weak job numbers. According to estimates from the Census Bureau, the monthly pace of new home sales declined 11.5% from August, falling from a 529,000 seasonally adjusted annual rate to 468,000. The September sales rate was effectively unchanged from the rate recorded in June…. Read More ›
Builders continue the modest rise in new home sales as reported by HUD and the Census Bureau. August new home sales, annualized and adjusted for seasonality, increased to 552,000. The August level was up 5.7% from an upwardly revised July and represents the highest level since February 2008. The steady, albeit modest, progression of new home sales reflects the steady… Read More ›
If you have ever wondered what drives a home buyer to select a particular home look no further. The American Housing Survey provides insight into the home buying process. The top two reasons for choosing a home were its size (cited by 76 percent of buyers) and room layout/design (74 percent). The house’s price and the neighborhood were each cited… Read More ›