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 … Read More

Houston Home Sales – Real Estate Market May 2017

Houston home sales continued to shine in May. Single-family home sales were up 11 percent compared to last year. Katy Texas home sales were flat for the month. The median price of a home sold in May hit a new all-time high of $235,000, while the average price of a Houston home was near a record at $302,362. Active listings … Read More

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 … Read More

New Home Sales Rise In March, Back To 1971 Levels

The Census Bureau reported that March new home sales posted at a seasonally adjusted annual rate of 621,000 units. This was up 5.8 percent from revised February numbers and the third consecutive month of sales gains for new homes. Combined with the March rise in existing home sales it would appear the first quarter of 2017 has been net positive … Read More

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 Crash Back To Reality Of Higher Rates

New Home Sales

The Census Bureau reported December new home sales of 536,000 (seasonally adjusted annual rate). This was a 10 percent drop from the revised November numbers and well shy of expectations. Unadjusted new home sales (38,000) were flat year-over year. The average price of a new home contracted in December 2016 was $384,000 while the median price posted at $322,000, near … 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

New Home Sales Soften In October

New Home Sales October 2016

New home sales for October came in at a seasonally adjusted annual rate of 563,000. This was below forecasts, and the previous three months of new home sales were revised downward by 34,000 units. Even with the decline, new home sales were still 17.8 percent higher than October of last year. The Census report for new residential sales in October … Read More

New Home Sales Softening, Higher Rates Won’t Help

new home sales

New home sales have rebounded nicely in 2016, but recent developments suggest the new home market could be looking at more softness ahead. In recent posts I detailed how the Census numbers for new home sales were likely overstated, and I was proven correct when the most recent report noted a dramatic downward revision of new home sales during the … Read More