DFW New Homes

New Home Sales Get Reality Check In December As Median Prices Hit Record High

Following yesterday's relatively weak existing home sales numbers from NAR, December new home sales posted at at seasonally adjusted annual rate of 625,000. That was a 9 percent drop from the euphoric November new home sales numbers, which were revised sharply lower along with October numbers. The median price of a new home in the U.S. hit a new high of $335,400 while the average price rose to $398,900. Existing home sales continue to suffer from an acute shortage of inventory and inflated prices. New home sales, while still growing, are even more expensive compared [...]

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 [...]

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