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Why Home Builders Can’t Meet Housing Demand

America’s home builders are having a difficult time meeting housing demand, or so they say. While access to credit is cited as a factor that is holding back builders, that’s only a partial cause of builders’ reluctance to put their money where their optimism index mouth is. As NAHB chief economist, Robert Dietz, explains it builders are finding it more …

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Single-Family Permits Flat In October As Housing Starts Jump

Single-family permits fell flat in October. That’s the news from today’s Census numbers on October construction starts and permits. The unadjusted single-family permits data show 60,500 new single family permits for October 2016, virtually unchanged from last year’s 60,300 print. Headline numbers for housing starts show a huge 23.3 percent YoY increase, and a 21.7 percent increase in single-family starts …

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

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 …

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Lennar Homes Sees Declining Deliveries & New Orders In Houston During Q2

Lennar Homes reported fiscal second quarter numbers this week. Although the company posted higher revenues and earnings for the quarter, Lennar’s Houston numbers were a noticeable soft spot. As one of the Houston area’s largest new home builders, Lennar is a good gauge for the overall strength of the Houston market. As one might expect, the local market for new …

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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 …

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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 …

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Lennar Homes Q1 2016 Earnings: Everything Is Fine Outside Of Houston

Lennar Homes reported 2016 fiscal first quarter earnings today, and the results were pretty good overall. I should point out that Lennar, like many of the other major homebuilders with a national footprint, has been reaping the overflow of hot Chinese money making its way into the U.S. real estate market. The recent bid in West Coast homes has the …

Hovnanian Reports Q1 Results, Announces Exit From “Frothy” San Francisco Market

Hovnanian Enterprieses (HOV) reported 2016 fiscal first quarter results today, posting a 29 percent increase in revenues and a net loss of $16.2 million. That was just part of the story for Hovnanian Enterprises. The more important news is that Hovnanian said it has exited the markets of San Francisco, Minneapolis and Raleigh, with plans to wind down operations in …

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Census: New Home Sales Decline 5 Percent YoY In January To 494,000 (SAAR)

The Census new home sales report came in lighter than expected today. New Residential Sales In January 2016 posted at a seasonally adjusted annual rate (SAAR) of 494,000. This was well shy of analysts estimates of 520,000 and 5.2 percent lower than January 2015. The median price of a new home in January 2016 was $278,800, a $13,200 drop from …