Eye On Housing
NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the composition of mortgages by financing method shifted over the third quarter of 2016. The share of new home sales financed with conventional loans expanded at the expense of FHA-insured and VA-backed mortgages. The shift to conventional mortgages indicates continued return to health in the… Read More ›
The US Census Bureau and Department of Housing and Urban Development in a joint release reported that newly constructed single family homes sold at a seasonally adjusted annual pace of 593 thousand in September, up 3.1% from a downwardly revised August figure, and up 29.8% from September 2015. However, note the monthly data is volatile and September was the lowest… Read More ›
Sales of newly-built, single-family homes fell 7.6% on a monthly basis in August to a 609,000 seasonally adjusted annual rate according to estimates from the Census Bureau and HUD. However, the monthly change masks the fact that the August pace of new home sales was the second strongest since the end of the Great Recession. New home sales for August… Read More ›
NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the share of mortgages financed through conventional, FHA, and VA loans, as well as cash, held steady in the second quarter of 2016 while the number of new homes sold grew by 22%. According to data from the Census Bureau’s Quarterly Sales by Price… Read More ›
The US Census Bureau and Department of Housing and Urban Development in a joint release reported that newly constructed single family homes sold at a seasonally adjusted annual pace of 551 thousand in May, down from 586 thousand in April, but up from the average pace of 524 thousand in the first quarter. The monthly numbers can be noisy –… Read More ›
In normal times roughly 70% of new home purchases are trade-up buyers (i.e., they have an existing home to sell) so the strength of existing home sales affects the strength of new home sales. Two series published by the National Association of Realtors (NAR) gauging the strength of the existing home sales sector are: pending sales and sales. The pending… Read More ›
In a joint release the Census Bureau and Department of Housing and Urban Development reported that newly constructed single family homes sold at a seasonally adjusted annual pace of 438 thousand in November, down slightly from October’s 445 thousand pace (-1.6%). Inventories of new homes for sale inched up 1.4% to 213 thousand. New home sales have moved up or… Read More ›
In an August survey asking single-family builders to describe mortgage lending standards in the areas where they build, well over half indicated that standards were tight or very tight. Only 11 percent indicated that lending standards were somewhat easy and none described them as very easy. The survey took the form of special questions appended to the monthly instrument used… Read More ›
The Census Bureau released figures for new home sales in June. Sales of new single family houses were at a seasonally adjusted annual pace of 406 thousand, down from a downwardly revised pace of 442 thousand in May. The June sales pace was disappointing but not a disaster. The May pace, even after revision, was a surprise on the high… Read More ›
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 ›