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New Home Sales Rise 9.1 Percent In June
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New Home Sales Rise 9.1 Percent In June

Development, Economy, Mortgage Rates, New Home Sales, Real Estate

New Home Sales Rise 9.1 Percent In June

The Census Bureau estimated new home sales for June at a seasonally adjusted annual rate of 610,000. This was close to expectations, but the previous three months were revised lower. Median price of a new home contracted in June was estimated at $310,800, roughly $10,800 lower than June of last year. The average price of a new home in June was $379,500. This was $15,200 higher than a year ago. With prices now at or above the previous cycle peak, new home builders will have to be creative to maintain sales volume growth. A favorable [...]

By Aaron Layman|2017-10-28T12:44:26+00:00July 27th, 2017|Development, Economy, Mortgage Rates, New Home Sales, Real Estate|0 Comments

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 [...]

By Aaron Layman|2022-08-06T13:29:09+00:00June 23rd, 2017|Economy, Existing Home Sales, Housing Policy, New Home Sales, Real Estate, Texas Home Prices, Texas Real Estate|0 Comments

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 [...]

By Aaron Layman|2017-12-22T01:42:08+00:00May 23rd, 2017|Development, Mortgage Rates, New Home Sales, Real Estate, Texas Home Prices, Texas Real Estate|0 Comments

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 for home sales despite the backdrop of higher mortgage rates. Preliminary new home sales for March were up 15.6% year-over-year. The average price of a new home contracted in March was $388,200, while the median [...]

By Aaron Layman|2017-08-19T10:39:59+00:00April 25th, 2017|Development, Economy, Mortgage Rates, New Home Sales, Real Estate, Texas Real Estate|0 Comments

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 [...]

By Aaron Layman|2022-08-06T13:29:35+00:00March 23rd, 2017|Economy, Existing Home Sales, Housing Market, New Home Sales, Real Estate, Texas Home Prices|0 Comments

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. [...]

By Aaron Layman|2022-08-06T13:30:06+00:00February 24th, 2017|Economy, Housing Policy, In the Press, Markets, New Home Sales, Politics, Real Estate, Regulation, Spin Cycle, Video|0 Comments

NAR Finally Gets Real About Home Affordability Issues

The National Association of Realtors is out with a new method of gauging home affordability. As part of NAR's look at the the growing rift between housing availability and home affordability, NAR has developed a new affordability distribution curve and a home affordability score. The new monthly research is designed to look at home affordability conditions among different income percentiles, gauging how many homes on the market are actually affordable to various buyer income groups. The new affordability distribution curve and score show that many U.S. homes are no longer affordable to typical prospective buyers. [...]

By Aaron Layman|2022-08-06T13:30:36+00:00February 20th, 2017|Economy, Housing Policy, In the Press, Markets, Mortgage Rates, New Home Sales, Politics, Real Estate, Spin Cycle, Texas Employment|0 Comments

New Home Sales Crash Back To Reality Of Higher Rates

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 the highs for 2016. So what happened to the lofty expectations of higher new home sales? In a word it it was an AFFORDABILITY problem. The real estate pundits who were expecting higher mortgage interest [...]

By Aaron Layman|2018-09-08T15:51:13+00:00January 26th, 2017|Development, Economy, Housing Market, Mortgage Rates, New Home Sales, Real Estate|0 Comments

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 difficult and expensive to develop land. Home builders should be thanking the The Federal Reserve for this warped, manipulated landscape, but most builders will likely avoid the discussion. The first rule of fight club is [...]

By Aaron Layman|2021-04-21T11:25:23+00:00January 11th, 2017|Development, New Home Sales, Real Estate, Spin Cycle|1 Comment

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 [...]

By Aaron Layman|2018-09-08T15:52:06+00:00December 23rd, 2016|Denton County New Homes, Denton Tx New Homes, Development, DFW New Homes, Housing Market, Mortgage Rates, New Home Sales, Real Estate, Relocation|0 Comments

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"Could not have been more pleased with the entire process of selling my Katy house. Aaron was very professional and went out of his way to help kennel my dog before showings while I was at work. He had an outstanding knowledge of the entire real estate transaction process and was always very responsive to my questions. Would definitely recommend Mr. Layman to anyone I know!!"

Matt B., Home Seller

"Aaron helped us narrow down our choices and navigate the market. He is very knowledgeable about making a wise decision. He will help you find a house that you love and is a good financial decision."

Kristina R., Home Buyer

"Aaron was our realtor when we bought our house 13 years ago and he was our realtor when we sold our house in 2014. He is honest about the market and very helpful with all aspects of buying/selling a home. We would recommend him to anyone in need of realty services."

Paula O., Home Buyer & Seller

"We had several agents to choose from as we'd been in the area for several years. Aaron was an easy choice as he's knowledgeable and wasn't afraid to go after what's best for us, his clients! He kept us well informed throughout the process and was always prompt in answering questions from start to finish. We definitely recommend Aaron!"

Shanna K., Home Buyer

"Working with Aaron was the best decision we made when looking for a new home and selling our previous home. He is one of the most knowledgeable realtors in the area. He knows the numbers, the trends, and always has data to back up his recommendations and decisions. Likewise, he made the process simple and understandable at the same time. Aaron was always in our corner and always did his best to get the best outcome for us. I have recommended Aaron to many friends and family and would recommend him to anyone looking to buy or sell their home."

Angelo G., Home Buyer & Seller

Denton County Realtor Aaron Layman

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New Home Sales

New Home Sales Rise 9.1 Percent In June