Tag Archive for ‘sales’

New Home Sales Increase in May Before Fed’s June Rate Rise

After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike. Sales of newly built, single-family homes in May increased 10.7% to a 696,000 seasonally adjusted annual rate from an upwardly… Read More ›

New Home Sales Deteriorate in April

New single-family home sales posted a significant decline in April as housing demand deteriorated in the face of rising interest rates. After starting at 3.1% in December, the average 30-year fixed rate mortgage increased to 5.1% by the end of April, per Freddie Mac. Additionally, builders continue to grapple with supply-chain issues, limiting inventory in a market for which new… Read More ›

FHA-Share of New Home Sales at 15-Year Low

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that conventional loans accounted for 78.5% of new home sales in the first quarter of 2022, the highest share in more than a decade. Conventional loans financed over three-quarters of new home sales in the second quarter of 2008 before steadily falling and bottoming out at 57.3%… Read More ›

New Home Sales Decline in February

New single-family home sales posted a second monthly decline in February as housing demand was affected by a jump in mortgage rates. After starting at 3.1% in December, rates increased to 3.45% in January and 3.76% in February, per Freddie Mac. Additionally, builders continue to grapple with supply-chain issues, limiting inventory in a market for which new construction is an… Read More ›

New Home Sales Slip in January

New single-family home sales posted a small decline in January as housing demand was affected by a jump in mortgage rates. The January pace of sales was nonetheless solid due to a lack of resale inventory and ongoing need for new construction. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built,… Read More ›

New Home Sales Increase in December

New single-family home sales increased in December as housing demand was lifted by buyers accelerating some contract signings due to anticipated higher mortgage interest rates in 2022. However, for the year as a whole, sales ended 7.3% lower than a supercharged 2020, as builders slowed some sales to manage ongoing building material and labor issues affecting the housing industry. The… Read More ›

New Home Sales Jump in November on High Consumer Demand

New single-family home sales rose in November as housing demand was supported by low interest rates and strong consumer demand, despite the ongoing building materials challenges impacting the housing industry. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in November at a 744,000 seasonally adjusted annual pace, a… Read More ›

New Home Sales Post Solid Gain in September

Contracts for new, single-family home sales increased 14% to an 800,000 seasonally adjusted annual rate in September according to estimates from the joint release of the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. On a year-over-year basis, the September estimate was 18% lower than a year ago, when an unsustainable rebound took hold in… Read More ›