After a slight slowing of sales at the end of 2020, new single-family home sales edged higher in January, increasing 4.3% to a 923,000 seasonally adjusted annual rate, according to estimates from the Census Bureau and HUD. Sales exceeded construction starts by a historic margin at the end of the summer, which necessitated an increase in starts and some slowing… Read More ›
Tag Archive for ‘new home sales’
Increased Share of All-Cash New Home Sales Marks a Busier-Than-Usual Fourth Quarter
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the most new home sales in a fourth quarter since 2006 (see red bars in the chart below). However, the share of sales backed by conventional loans in the fourth quarter was down 2.2 percentage points (quarter-over-quarter)… Read More ›
Steady New Home Sales at End of 2020
After a surge in the pace of new home sales in the middle of the year, the monthly growth rate of newly built single-family home sales slowed at the end of 2020. Sales exceeded construction starts by a historic margin at the end of the summer. This necessitated an increase in starts and some slowing of sales. Nonetheless, the acceleration… Read More ›
Affordability and Lack of Supply Put a Dent in Home Sales
After a surge in the pace of new home sales in earlier in the year, the monthly growth rate of newly built single-family home slowed during recent months. Sales exceeded construction starts by a historic margin at the end of the summer. This necessitated an increase in starts and some slowing of sales. Nonetheless, the acceleration of sales in 2020… Read More ›
New Home Inventory at a Three and Half Year Low
After a surge in the pace of new home sales in July and August, the monthly growth rate of newly built single-family home slowed during the Fall. While the level of sales remains elevated and at post-Great Recession highs, sales have exceeded construction starts by a historic margin at the end of the summer. This necessitated an increase in starts… Read More ›
Buoyed by Low Interest Rates, Conventional Loan Market Share Rises
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed the most new home sales in a quarter since 2007. The share of sales backed by conventional loans in the third quarter was 71.8%–the largest share since Q4 2018, but well below the housing boom peak of 91.7% (Q4… Read More ›
New Home Sales at Highest Pace Since September 2006
New single-family home sales surged in August, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs. Census and HUD estimated new home sales in August at a 1.01 million seasonally adjusted annual pace, an approximate 4.8% gain over revised July rate… Read More ›
Home Purchasing Continues Gains
The latest round of the Mortgage Bankers Association’s (MBA) Weekly Application Survey showed a decline in its benchmark Market Composite Index for the week ending on May 29 by 3.9% from the previous week on a seasonally adjusted basis. Refinancing activity, fell sharply from the previous week by 8.6%. However, purchase application activity rose by 5.3%. Continuing the trend that… Read More ›
Conventional Financing of New Home Purchases Declines as VA-Backed Sales Gain Market Share
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that VA-backed sales made up 9.1% of new home sales in the first quarter of 2020, the largest market share since early 2016. In addition, cash sales (4.3%) made up their smallest share since Q3 2009 (3.8%). Mortgages backed by the… Read More ›
New Home Sales Decline in March amidst Virus Concerns
Despite a strong start for 2020, new home sales weakened significantly in March due to challenges associated with COVID-19. Contracts for new, single-family home sales declined in March by 15.4% to a 627,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. NAHB expects further declines in a challenging April, which has… Read More ›