The new home sector has played an increasingly important role in meeting housing demand as resale inventory remains constrained in many regions. The latest data released today (and delayed because
Existing home sales dipped in August as elevated mortgage rates and higher home prices continued to sideline buyers, according to the National Association of Realtors (NAR). August sales reflected deals
A modest drop in mortgage rates led to a surprisingly large jump in new home sales in August, though the figure may be revised downward in the coming month. Sales
High mortgage rates, rising construction costs and economic uncertainty continue to deter many potential home buyers during this summer season. Sales of newly built single-family homes edged 0.6% lower in
Challenging affordability conditions, elevated interest rates and economic uncertainty continue to act as headwinds on the housing sector as many potential buyers continue to stay on the sidelines. Sales of
Elevated interest rates and economic uncertainty sent more home buyers to the sidelines in May as housing affordability conditions remain challenging. Sales of newly built single-family homes declined 13.7% in
The Census estimate of new home sales posted an unexpected gain in April even as builders and consumers continue to deal with economic uncertainty, elevated interest rates and rising building
A modest decline in mortgage rates and lean existing inventory helped boost new home sales in March even as builders and consumers contend with uncertain market conditions. Sales of newly
In November 2024, the U.S. housing market experienced a significant boost, with sales of new single-family homes reaching a seasonally adjusted annual rate of 664,000, according to newly released data
Steadily rising mortgage rates coupled with ongoing affordability challenges kept many potential home buyers on the sidelines in October. Sales of newly built, single-family homes in October declined 17.3% to
Home buyers moved off the sidelines in September following the Federal Reserve’s recent move to cut interest rates for the first time in four years. Sales of newly built, single-family
Expectations of the Federal Reserve beginning the first in a series of rate reductions kept potential home buyers in a holding pattern in August. Sales of newly built, single-family homes
New home sales fell to the lowest level since November 2023, as elevated mortgage rates continued to keep buyers on hold. Sales of newly built, single-family homes in June fell
Mortgage rates that averaged 7.06% in May per Freddie Mac, the highest monthly average since last November, put a damper on new home sales last month. Sales of newly built,
Stable mortgage rates at the beginning of 2024 helped new home sales to increase in January. Sales of newly built, single-family homes in January increased 1.5% to a 661,000 seasonally
Falling interest rates in the closing weeks of 2023 helped to bring buyers off the sidelines and provide a boost for new home sales. Sales of newly built, single-family homes
Elevated mortgage rates acted as a drag on new home sales in November, but with the economy now apparently past peak interest rates for this cycle, sales are expected to
Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October. Sales of newly