Seems to me a bit of a slump
in new home sales for now, might just be a silver lining in a very dark cloud.
The company also predicted that the number
of new home sales will rise 74 percent in 2012.
The decline occurred after solid, positive revisions
for new home sales for the first three months of the year.
They created the 30 - year mortgage, for example, and reduced the down payment required
on new home sales.
One is low supply, but rising building costs for lots, materials and labor will also boost
new home sales prices.
The big question going through the rest of the summer selling season is
whether new home sales can maintain levels above 600,000 units.
If you are thinking of getting
into new home sales, create a relationship with a home / condo builder right away.
The steady, albeit modest, progression of
new home sales reflects improvement for jobs and consumer confidence, with home buyers taking advantage of historically low mortgage rates.
Higher interest rates, meanwhile, will
impact new home sales as the year progresses due to elevated pricing.
In this week's economic review,
new home sales hit a major stride, home prices increased, and consumer sentiment came in at a 13 - year high.
The majority of agents surveyed indicated that
new home sales account for less than 10 per cent of their business.
Maybe the collapse of
new home sales across the country which is causing increases in the average resale home price even when demand is shrinking, reducing sales volume growth.
Existing sales are projected to be 3 percent lower,
whereas new home sales are projected up by 10 to 15 percent.
First,
most new home sales are not accounted for in any database so it's difficult to get a totally clean number.
Clearly, the increase
in new home sales, that we are seeing, is not enough and it is increasingly the wrong kind.
The three - month moving average
of new home sales has increased steadily for more than a year as more housing markets begin to see rising home prices and improving consumer sentiment.
While the sources of finance
for new home sales have changed noticeably since the start of the Great Recession, cash sales remain more common for existing homes compared to new construction.
Each data series,
whether new home sales, employment, or durable goods sales, etc., has its own unique sets of characteristics.
New home sales rose in April to a seasonally adjusted rate of 454,000, up 2.3 % from the March pace.
U.S.
new home sales increased 4.0 % in March, according to the Census Bureau and the Department of Housing and Urban Development.
Even though
new home sales declined in last month's report (which highlights December), I think there is still underlying strength building in the housing market.
The annual rate of
new home sales jumped 1.5 % in March to 417,000 — the second highest monthly sales pace in three years.
Unfortunately we don't have data on
new home sales at the state - level (only nationwide and each of the four regions).
What was left out of this discussion is also that with $ 99 listings and declining
new home sales continuing to be reported, like in the early to mid 90s new home builders turned to REALTORS and the MLS system to market their properties.
Source: National Association of Home Builders and «
U.S. New Home Sales Fall Modestly From Five - Year Peak, Prices Up,» Reuters (Dec. 24, 2013)
To receive the CSP designation a candidate must complete the
Certified New Home Sales Professional 3 day course and pass a final exam.
Housing stocks are mixed in the market, ahead of
new home sales data out next week, reports CNBC's Diana Olick.
Meanwhile, in October, mortgage rates dropped by three - tenths of a percentage point just as
new home sales surged 18 %.
While the month - over-month drop was notable, it remains the case that the pace of
new home sales remains significantly higher (12.3 %) than this time a year ago.
Builders have also
seen new home sales grow due to residents whose homes flooded after Hurricane Harvey being able to re-enter the market.
According to data from the Census Bureau's Quarterly Sales by Price and Financing, the onset of the housing crisis in 2007 led to a decline in the share of
new home sales due to conventional mortgage financing and increases in the shares due to mortgages backed by the Federal Housing Administration (FHA) and the Department of Veteran's Affairs (VA), as well as cash purchases.
Before the Fed,
US new home sales came in well above the consensus estimate while the deficit of the current account was slightly wider than expected.
New home sales came in softer than expected for January, posting at a seasonally adjusted annual rate of 593,000.
But the booming sales pace earlier this year has lost steam
as new home sales fell 3.1 percent in March.
Chart 9 shows that the correlation between monthly revised single - family housing starts and the monthly NAHB diffusion index of single -
family new home sales is 0.84.