Census: New Home Sales Rise With Decline In Median Price

New Home Sales

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 … Read More

Financialization Of Housing And The Disturbing Gap In New Home Sales

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 … Read More

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

New Home Sales vs Mortgage Rates

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 … Read More

Election Year Surprise New Home Sales In July Rise To 654,000 (SAAR)

new home sales

New home sales for July rose to a seasonally adjusted annual rate of 654,000. According to the latest Census numbers for new residential sales, the median price of a new home in July was $294,600, up from $296,000 last year. The average price of a new home contracted in July was $355,800, up from $341,900. If the latest new home … Read More

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 … Read More

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 … Read More

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 … Read More

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 … Read More

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 … Read More

Census: Housing Starts, Permits Decline In March

It appears the 2016 “pent-up demand” story didn’t last very long. The Census Bureau just reported that housing starts and permits both fell during March. What is interesting is that single-family starts fell 9.2 percent from revised February numbers, posting at a seasonally-adjusted annual rate of 764,000 units. Single-family authorizations fell 1.2 percent from February figures.  Housing starts and permits … Read More