Census

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New Home Sales Rebound In May

The Census Bureau reported a rebound for new home sales in May. New residential home sales posted at a seasonally adjusted annual rate of 610,000. This was 2.9 percent higher than the revised April numbers and 8.9 percent higher than a year ago. The median price of a new home contracted in May was $345,800 while the average new home price in May came in at $406,400. Just like we saw with existing home sales this week, median home prices hit a new all-time high. New home sales volume, while up from last month, is [...]

New Home Sales Tumbled In April, Unchanged Year-Over-Year

So much for the Trump bump euphoria. New home sales tumbled in April, posting at a seasonally adjusted annual rate of 569,000. This was 73,000 below the revised March figure and far below analysts expectations. Then again analysts haven't been paying attention to the real economy, so this latest data is not a surprise to anyone who doesn't have their head in the sand. Year-over-year, new home sales for April are back to unchanged according to the latest Census figures. And just like that, the "pent up demand" that pundits have been talking about has [...]

Census: New Home Sales Rise With Decline In Median Price

The Census Bureau reported new home sales for February that were 12.8 percent higher than a year ago. New home sales posted at a seasonally adjusted annual rate of 592,000, with the bulk of the sales increase coming from the Midwest region.. The median price of a new home contracted in February was $296,200, down from $311,300 last year. The average price of a new home contracted in February posted a surprisingly large increase to $390,400. The big decline in median prices (down over $15,000) from last year likely helped to boost February sales. Mortgage [...]

Financialization Of Housing And The Disturbing Gap In New Home Sales

The financialization of the U.S. housing market has led to a rather disturbing gap in new home sales relative to existing home sales. This is a subject I was referencing this week when I mentioned the problem builders are facing with the lack of affordable land to build new homes on. Today the Census Bureau reported new home sales for January came in at a seasonally adjusted annual rate of 555,000. Previous months were also revised lower, with November taking a significant haircut. On a year-over-year basis January new home sales were up 5.5 percent. [...]

New Home Sales Rise In November To 592,000 (SAAR)

New home sales rose to a seasonally adjusted annual rate of 592,000 in November. Census Bureau numbers showed the average price of a new home contracted in November was $359,900, down from the average price of $376,800 seen last year. The median price of $305,400 was also lower than last year's median of $317,000. New home sales have been surprisingly strong for most of the year, posting double-digit increases compared to last year. Census revised previous months sales slightly lower, but all things considered new home sales have been fairly strong prior to the interest [...]

Census: New Home Sales In June Rise To Highest Level Since 2008

The Census Bureau reported new residential sales for June that came in at a rate of 592,000 (SAAR). This was above expectations, and a continued indicator that the Fed's juicing of the market continues to provide a boost to new residential construction. The latest report shows that new home sales in June were 25.4 percent higher than last year. New home prices were also higher. The median price of a new home sold (contracted) in June was $306,700 and the average price was $358,200. This was a good report for new home sales, but it [...]

New Home Sales Cool In May As Incentives To Buyers Increase

The Census reported new home sale for May, and as expected the previous month's data were revised lower as sales activity showed  a more moderate pace than some had hoped for. New residential sales for May posted at a seasonally adjusted annual rate of 551,000, about 35,000 less than April's downwardly-revised number. The median price of a home contracted in May was $290,400, a one percent increase from May of last year, and down 9.3 percent from the previous month. The average price of a home contracted in May stood at $358,900, an increase of [...]

Census: New Home Sales Rise To 619,000 (SAAR) In April

The Census Bureau released another version of cartoon lunacy this morning with the April new home sales report. If we are to believe the government's ongoing collective work of fiction, New Residential Sales In April rose to a seasonally adjusted annual rate of 619,000. This would be fabulous news if it stands, but a 53 percent rise in the Northeast leads me to believe this is nothing more than election-year padding of the economic statistics. The latest data point for April new home sales certainly looks like an outlier. It looks even more dubious when [...]

Census: Permits & Starts For Single-Family Homes Rise In April

The Census Bureau reported housing starts and permits data for April, and the numbers show a slight rebound for the residential home construction market in April. Although multi-family activity declined during the month, the year-over-year comparisons for both starts and permits of single-family homes rose in April. YoY comparisons show that single-family starts rose 4.3 percent from April 2015, and permits increased by 8.4 percent compared to April 2015. The starts and permits activity for single-family homes in April is a bit surprising because the reality is that new homes are still extremely expensive when compared [...]

By | 2016-11-20T13:30:16+00:00 May 17th, 2016|Development, Economy, New Home Sales, Real Estate|0 Comments

New Home Sales Decline To 511,000 Annual Rate In March

The Census Bureau reported that new home sales for March declined to a seasonally adjusted annual rate of 511,000. This was below expectations of 522,000, but higher than March of last year. The median price of a new home contracted in March was $288,000, a YoY decline of $5,400. The average price of a new home contracted in March was $356,200, $3,500 more than March of 2015. New home sales have remained grounded as the Fed's "wealth effect" continues to diminish within the real economy. New home sales are still hovering around 1991 levels, due [...]