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New Home Sales

New Home Sales Rise For 7th Month Out Of 8
2012-05-24 14:45:00
The April New Home Sales report suggests that the market for newly-built homes is as strong as the market for existing ones.
Behind The Housing Starts Headlines, The Story That Matters
2012-01-20 14:45:00
Single-family housing starts climbed 4 percent last month to 470,000 units on a seasonally-adjusted, annualized basis. This is the highest number of Single-Family Housing Starts since April 2010 -- the last month of last year's home buyer tax credit.
New Home Supplies Fall To An 18-Month Low
2011-11-29 14:45:00
If you plan to buy of new construction in 2012, don't expect today's low prices. Like everything in housing of late, the market for newly-built homes appears to be improving.
As Buyer Foot Traffic Rises, So Does Homebuilder Confidence
2010-10-19 14:50:00
According to the NAHB, October's HMI reading of 16 is its highest value in 5 months. The uptick hints that the market for newly-built homes may rebound more quickly that this summer's weak new homes sales figures would otherwise suggest.
New Home Sales Plunge To Lowest In 17yrs
2008-04-26 00:51:00
New-Home Sales in U.S. Plunge More Than Forecast, the Lowest in 17yrs by Bloomberg - snip:Purchases of new homes in the U.S. plunged more than forecast in March to the lowest level in almost 17 years as stricter loan rules and falling prices caused buyers to hold off. Sales dropped 8.5 percent to an annual pace of 526,000, the fewest since October 1991, from a 575,000 rate the prior month, the Commerce Department said today in Washington. The median sales price slumped 13.3 percent from the same time last year, the most in almost four decades. A jump in subprime mortgage defaults and record foreclosures have worsened the real-estate slump and led banks to limit lending. The threat of a prolonged recession is growing as lower home values constrain consumer spending and persistent declines in homebuilding subtract from economic growth. "The drag from housing is not going to abate any time soon," Drew Matus, senior economist at Lehman Brothers Holdings Inc. in New York, said before th...
New Home Sales in March
2008-04-25 15:59:00
The headlines are shrieking again, this time about the Commerce Department's report yesterday that new home sales in March were the lowest in sixteen years or so. ABC News even opined (in the guise of reporting) that this report indicates that the housing market is getting worse. Wrong again, folks. New homes are a different critter from resales. Generally, the time from contract to closing is longer than in the case of resales. Six to nine months is not unusual for new homes to take to close. The mortgage crisis peaked in August 2007. Contracts for all home sales in September and October were hit very hard, and the holiday season was much slower than had been expected because of the mortgage problem. Resales from that period closed in December and January, really poor months in terms of numbers of sales. New homes contracted in the gloomy period would just about now be closing because of the lag time. Same pig, different python. (Still...
New Home Sales Drop 8.5% and Median Sale Price Drop 13.3%
2008-04-25 14:11:00
Sales of new homes plunged last month to the lowest level in 16 and a half years. No Tags
New home sales fell in March to the lowest level in more than 16 years
2008-04-25 00:00:00
New home sales fell in March to the lowest level in more than 16 years, according to a key government report on the battered housing market released Wednesday.March sales came in at a seasonally adjusted annual rate of 526,000, the Census Bureau report showed, down 8.5% from a revised 575,000 in February and down 36% ...
New Home Sales Info that is a Real Mixed Bag
2008-04-24 21:28:00
New home sales plunge to lowest level in 16 years Below is a link to an AP story pointing out that nationally new home sales in March 2008 plunged to a 16 and a half year low. So why did I start this out as a possible "mixed bag". Well data from March for Sarasota County, Manatee and Charlotte shows that sales of EXISTING homes are actually up a bit, though prices are down. The mixed bag is that for all the bad things that come home to roost in our economy, especially locally as it is so tied to the housing market, there is indication here of SOME movement to use up some of the backlog of existing inventory of resale homes - perhaps at the expense of sales of new product. But for prices to stabilize we really do need to burn through some inventory before we "make some more" with new construction. If you need to sell or are currently trying to sell your home - seeing some inventory drain off would be a good thing. In the long run though our ow...
New home sales plunge
2008-04-24 20:38:00
Can the housing market get any worse? You bet it can.
New Home Sales: more bad news
2008-04-24 16:20:00
The slump in the housing market continues. According to CNBC: New-Home Sales Tumbled A Surprising 8.5% in March New single-family U.S. home sales fell by an unexpectedly steep 8.5 percent in March and the median sales prices versus a year ago dropped by the largest amount since 1970, a government report showed. The pace of sales slowed to ...
Phoenix New Home Sales: Enough With The ?Bottom? Predictions Already
2008-04-22 09:02:00
R.L Brown, a local housing analyst, is not allowing a lack of evidence to deter him from declaring a probable "bottom" in the Phoenix new home market: The Phoenix Housing Market Letter released Monday suggests that the worst might be over for new homebuilders in the region, but acknowledges that the subprime mortgage fallout ...
New Home Sales Decline
2008-03-29 17:51:00
Earlier this week the National Association of Realtors released their numbers for existing home sales for February and to most people's surprise, they were up. Unfortunately, that's not the case for new home sales. According to the Commerce Department, new home sales dropped 1.8% from January and were down nearly 30% from February 2007. This is the lowest level of sales for new homes in 13 years. Now in the third year of declining sales, the building industry is slowing construction of new homes and trying to concentrate on what home buyers are really looking for in today's market. Many builders, both small and large, have had to close their doors altogether. In the end, the builders who are able to meet the current market's needs will come out on top.
New Home Sales Froze Over In February
2008-03-28 13:26:00
It is getting tougher and tougher to say that the worst has come in the housing market as every time we do...another part of the floor gives out. But there are signs of a very light thaw starting.In February, new home sales were down 29.8% year over year. While this is better then expected, home sales still hit a 13-year low as no one wants to buy while things continue to slide. Home inventory is now at a 9.8 month supply and while the median price tick up a little month over month it is still down 2.7% vs last year.Here in our little mecca in the woods the home values have been hit hard..of course that is directly proportional to the crazy rise in values here for the last 6-years as well. Frankly in you bought 5+ years ago here, you are in good shape even with the slide. But if you just moved back a year ago like I did you are down.On the upside, open lots in our neighborhood (its about 2-years old) are now all sold out and a bunch of houses are being built. It feel a bit like Fiel...
New Home Sales: Why Do Investors Care
2008-03-27 06:38:00
New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances. Why Do Investors Care?This provides a gauge of not only the demand for housing, but the economic momentum. People have to be feeling pretty comfortable and confident in their own financial position to buy a house. Furthermore, this narrow piece of data has a powerful multiplier effect through the economy, and therefore across the markets and your investments. By tracking economic data such as new home sales, investors can gain specific investment ideas as well as broad guidance for managing a portfolio. Each time the construction of a new home begins, it translates to more construction jobs, and income which will be pumped back into the economy. Once the home is sold, it generates revenues for the home builder and the realtor. It bring...
New Home Sales Reach 13 Year Low
2008-03-27 00:35:00
New home sales in the U.S. dropped to a new 13 year low in February. The decline was slightly worse then analysts had been expecting. Current inventories levels on the market are the highest in more then 26 years due to new foreclosures continuing to compound on an already flooded market.
New Home Sales Continue Deep Slide
2008-03-26 16:53:00
Market Watch has the details on the new home sales report and it doesn’t look pretty (lots more at Calculated Risk).  While sales are off 30% year-over-year we still have 10 months worth of new inventory, the highest since 1981.  On the bright side we’re slowly cutting in to excess inventory which is an important step ...
Gold higher, oil inventories & new home sales to set the tone
2008-03-26 16:28:00
Dallas Fed president Fisher scheduled to speak today International Gold futures surged by as much as $14.4 to $949.4 an ounce in the mid Europe session today as the buoyant data from euro zone and... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
New home sales fall 1.8% in February
2008-03-26 15:11:00
According to CNBC: New-Home Sales Plunge 1.8% To a 13-Year Low Sales of new single-family U.S. homes fell 1.8 percent in February while the median sales price was down from a year ago and inventories fell modestly, according to a government report on Wednesday that delivered uneven news for the ailing housing sector. The pace of sales fell ...
New home sales nosedive in Feb - Singapore
2008-03-18 04:35:00
New home sales nosedive in FebĀ  - Singapore Only 185 out of 343 units sold, down from 328 in January, but prices are holding steady By Fiona Chan, Property ReporterĀ  SALES of new homes slowed almost to a standstill last month, delivering another blow to the already-weak housing market here. Property developers yesterday said they sold only 185 new units in February, about half of the 343 they launched in the month and well down from the 328 sold in January. This anaemic performance, coupled with the continuing quietness of the market this month, prompted some experts to predict that new home sales this quarter could hit one of the lowest levels ever seen here. ‘The current weak market sentiment is likely to stay, which means that the total number of new homes sold in the quarter may be 700 to 800 units,’ said Mr Li Hiaw Ho, executive director of CB Richard Ellis Research. He said this could be worse than during the Asian financial crisis, when just 894 new units were s...
Bernanke on the Economy, Greenspan on the Dollar, New Home Sales Sink, Lake
2008-02-28 21:10:00
by Addison Wiggin & Ian Mathias Bernanke back on Capitol Hill? ?Fed speak? translations show more rate cuts, higher inflation Why a former Fed chairman gave the dollar a ?slap in the face? Housing takes another turn for the worse? surprisingly bad new home sales data below Oil retreats from $102, but only for a moment? Byron King with ...
New Home Sales Fell by 26% in 2007
2008-01-30 12:58:00
Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes. Purchases of new homes fell 4.7% just in December 2007 to a 12-year low, the U.S. Commerce Department reported Monday, in ...
New Home Sales up in Northeast
2008-01-29 15:34:00
I'll bet you didn't see this headline today. It was the only positive note in the Commerce Department's report at The Northeast region is experiencing less of hit to new home sales than any other part of the country. In 2007 there was a 1.6% advance in sales over 2006 at a time when the West recorded a decline of 32.2%, the Midwest 26.7%, and the South 26.3%. Keep in mind these are new home sales, not "resales." And, like all numbers on the real estate market, it depends on where you live. There is no national real estate market.
Builders cut prices 10%, but U.S. new-home sales fall anyway
2008-01-28 21:44:00
Builders slash prices 10%, but sales fall anyway December?s 5% decline caps record 26% drop in U.S. new-home sales for 2007 By Rex Nutting, MarketWatch Last Update: 10:29 AM ET Jan 28, 2008 WASHINGTON (MarketWatch) ? U.S. builders slashed prices by more than 10% in December in a failed bid to boost sales, which dropped about 5% to the lowest level ...
New Home Sales: Biggest Drop Ever
2008-01-28 16:50:00
NEW YORK ( — New home sales posted the biggest drop on record in 2007, according to the government’s latest look at the battered housing market released Monday, as a year that saw a meltdown in the mortgage market and a drop in home values ended with yet more signs of weakness. December sales came in ...
New home sales plunged a record 24.6% in 2007
2008-01-28 16:43:00
Sure, the real estate bottom is almost here. Yeah, right!! Look at this dramatic drop in new home sales for December 2007. These are truly recession numbers any way you see it. Most importantly, the inventory keeps going up. CNBC says: “It would take 9.6 months to clear that inventory at the current sales pace, up ...
New Home Sales
2008-01-28 14:32:00
WASHINGTON (AP) - Government data released Monday is forecast to show new home sales dropped slightly in December. The Commerce Department is expected to report that new home sales dipped 0.3 percent in December from a month earlier to a seasonally adjusted annual rate of 645,000 units, according to the consensus forecast of Wall Street economists surveyed by Thomson/IFR. The report is scheduled to be released at 10 a.m. EST. If the results meet analysts' expectations, they will be 36.7 percent below year-ago levels. A month ago, the government reported new home sales plummeted 9 percent in November from October to a rate of 647,000 units, or 34.4 percent below-year ago levels. Many builders such as Centex Corp., Pulte Homes Inc. and Hovnanian Enterprises Inc. were caught with a glut of unsold properties this year when mortgages became hard to get and sales slowed. Builders have slashed prices, but many buyers have stayed on the sidelines because they're having trouble getting...
November New Home Sales Plunge 9% - 2008 Will Be Full Of Nasty Financial Ni
2007-12-29 01:39:00
Worst Housing Recession Ever: No End in Sightby Nouriel Roubini - snips:Following the meltdown in new home sales - down a whopping 9% in November alone based on data published today ? it is clear that this is not going to be the worst housing recession in the last 50 years as I predicted; it is rather going to be the worst housing recession since the Great Depression or, better, the worst housing recession ever in US history. At this rate of falling sales (and they will fall much more ahead) housing starts that have already plunged over 40% from peak to a level of about 1.1 million will have to fall another 25% - to a level below 900K ? to start clearing the excess supply of unsold new homes that is now at 9.3 ratio relative sales. And even a 20% fall in home prices now looks like too optimistic; the total cumulative fall in home prices may turn out to be closer to 20% with some urban areas of excess (in Florida, California, Nevada, Arizona, etc.) showing even 40% fall in prices......
December New Home Sales At Lowest Level In More Than 12 Years
2007-12-28 18:58:00
According to Yahoo Finance this morning: WASHINGTON (AP) — Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector. The Commerce Department reported Friday that new-home sales tumbled by 9 percent in November from October to a seasonally ...
New home sales fall 9% from last month
2007-12-28 17:39:00
The bubble keeps bursting… AP via Yahoo Finance reported this morning. WASHINGTON (AP) — Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector. The Commerce Department reported Friday that new-home sales tumbled by 9 percent in November from October to a ...
Venice Surf Report 12/28/07 New Home Sales Plummet
2007-12-28 16:34:00
Nice morning finally......Sun's out, wind is light, ocean surface is glassy and there is even a small swell in the water in the knee high +/- range. Certainly nothing to write home about but it's a lot better than it has been, especially concerning the wind. Could be a lot worse - I'll be paddling out.Nobody out yet, nobody even scoping, clean conditions and weakish swell.Report just came out - new home sales dropped to an annualized level of only 647K and last month's number, which showed an unexpected spike, was revised downwards.Hate to say I told you so but......I told you so.Sales of New Homes in U.S. Dropped 9% to 12-Year Low (Update3) By Bob WillisDec. 28 (Bloomberg) -- Sales of new homes in the U.S. fell to a 12-year low in November, pointing to bigger declines in construction that will hobble economic growth throughout 2008. Purchases dropped 9 percent to an annual pace of 647,000 and October sales were revised down to a 711,000 rate, the Commerce Department said today ...
New Home Sales Plunge And Foreclosures Thru The Roof
2007-11-30 01:26:00
New Home Sales: That Sinking Feelingby BMO Capital Markets - snip:First the good news?U.S. new home sales rose for the first time in six months in October, chipping away at the massive glut of unsold homes on the market. And now, all the bad news. Because of sharp downward revisions the prior three months, totalling -74K, sales undershot market expectations by a wide margin, 728k versus 750k. The 1.7% gain in the month is merely a dead cat bounce off the lowest level in a dozen years. Worse, it took the biggest decline in median prices in nearly four decades (-13% y/y), and likely truck-loads of freebies, to spur demand in the month. And yet, inventories remain bloated, with the months? supply sitting at a still-high 8.5, though down from the 17-year high of 9.3 reached in August. It also took a little longer to make a sale in October compared with the prior month and a lot longer than a year ago. And with consumer plans to purchase a new home sitting at a 13-year low in November (...
FLASH: New home sales (supposedly) crater 23%, prices crash 13% vs. last ye
2007-11-29 20:56:00
Let that sink in a bit. New home prices without even including the massive builder incentives and cash-back have crashed 13% versus last year. On a highly leveraged asset like housing, that's bankruptcy or financial devastation for most new buyers who listened to realtors on commission last year instead of HP.$500,000 home-13% price decline or $65,000-7% selling fee or $35,000-10% incentives/cash back or $50,000= $150,000 loss in 12 monthsShould have rented.Oh, nice to see our lazy, corrupt and incompetent MSM headline that new home sales were actually up this month. Seriously, someone take them out back and shoot them. The MSM no longer serve a purpose for society.
Forex - Dollar lower after weak US new home sales data -
2007-11-29 15:11:00
Forex - Dollar modify after anaemic US newborn bag income -47 transactions agoThis was somewhat equilibrize by a stronger-than-expected CBI retail income survey, which also showed a large move in broad street prices, but the market mostly …Forex - Dollar firms on brawny US stocksCNNMoney.comForex - Dollar firms as technicals predominate perverse sentimentCNNMoney.comForex - Dollar ...
Good News For US New Home Sales
2007-11-19 09:10:00
News reports from the United States provided some much needed good news for the beleaguered housing market. Sales of new homes were up 4.8% for the month of September, rising to a seasonally adjusted rate of 770,000 for the year from the August rate of 735,000. The latest figures are according to the US Commerce Department in news reports from Reuters.
Despite Rising Foreclosures, New Home Sales Rebound In September
2007-11-09 13:07:00
According to a survey by MarketWatch, sales of new homes rebounded in September from summer sales levels that were much weaker than previously reported, due to foreclosures and sub-prime lending, the Commerce Department reported Thursday. MarketWatch said that the sales in September increased 4.8% to a seasonally adjusted annual rate of 770,000 from a revised 735,000 ...
US New Home Sales Rose 4.8% in September
2007-10-27 00:38:00
News reports from the United States provided some much needed good news for the beleaguered housing market. Sales of new homes were up 4.8% for the month of September, rising to a seasonally adjusted rate of 770,000 for the year from the August rate of 735,000. The latest figures are according to the US Commerce Department in news reports from Reuters.
New Home Sales Overstated as Economic Consensus Misses the Boat (Again)
2007-10-25 23:01:00
Don’t read too much into the reports that housing is on the mend based on yesterday’s numbers showing new home sales have picked up. As we’ve reported before, new home sales number never include the cancellation numbers that have been running at a very brisk pace according to homebuilders’ disclosures. Bary ...
New Home Sales Went Up. So What?
2007-10-25 16:45:00
October 25, 2007 - Here’s another story that belongs in the “More Worthless Manufactured Key Economic Indicators Released by the Government” statistic. Out of Washington D.C. at 10 AM this morning, this story was released WASHINGTON (MarketWatch) - Sales of new homes (in the U.S.) rebounded in September from summer sales levels that were much ...
New Home Sales Are Steady
2007-10-19 00:00:00
Interesting article that real estate investors will enjoy in the AZ Republic: Steady new-home sales are a good sign for market Oct. 7, 2007 Resales across metropolitan Phoenix were down again in August, but new-home sales held steady. It could be a sign that the thousands of speculatively built homes across the Valley are selling while builders are pulling back on putting up more new ones. Both moves will help the resale market because fewer listings mean less supply. The Phoenix Housing Market Letter tracked 3,110 new-home closings in August. It was the fifth straight month the figure didnt lose any ground. advertisement New-home prices have dropped since la
News Brief - New-home sales plunge 8.3% to seven-year low
2007-09-28 23:20:00
Median sales price down 7.5% in past year, biggest drop in 37 yearsSales of new homes dropped 8.3% in August to a seasonally adjusted annual rate of 795,000, the slowest sales pace since June 2000, the Commerce Department estimated Thursday. Sales are now down 21.2% in the past year, with no sign of a bottom in the crippled housing market.Source -
FLASH: New home sales plunge again - down 21% vs. last year, prices crash a
2007-09-28 01:25:00
Everything's fine. Housing is in a soft landing. There was no bubble. Now's a great time to buy! There's never been a drop in the US median home price. Housing is your best investment. Renting is throwing money away.Remember the idiots who used to post such dribble on this blog? Meanwhile, if you bought a new home in the past couple of years, technically, on paper, you're probably bankrupt.Hat-tip to Doom for the chart that's worth a million realtors on commission... Too bad we can't get real pricing information though. This report is 100% bullsh*t when it comes to that as they don't include the firesale incentives. Prices are probably down another 20% or more than we're hearing... And I love the MSM reporting the 8.3% drop from LAST MONTH. Uh, MSM, you look at YEAR OVER YEAR in this business. Idiots.WASHINGTON (AFP) ? Sales of new US homes slid 8.3 percent in August to their lowest level in seven years, Commerce Department data showed Thursday in yet another si...
New Home Sales Plunge, Tumble and Fall
2007-09-27 18:38:00
Here are a few of this mornings new home sales headlines: [Thanks L!] New-home sales plunge 8.3% to seven-year low [Marketwatch] New-Homes Sales Tumble in August to Lowest Level in 7 Years [AP] August new homes sales fall more than expected [Reuters] To which Doom replies, "Wait until you see Septembers figures!"  But let’s not get ahead of ...
New Home Sales Increased in July
2007-09-02 14:29:00
WASHINGTON (Associated Press) ? After a 4 percent drop in June, sales of new homes rose 2.8 percent in July to a seasonally adjusted annual rate of 870,000 units, according to the U.S. Department of Commerce. Sales increased 22.4 percent...
Uptick Nationally in New Home Sales
2007-08-25 16:20:00
Southwest Florida Builders See Better Year in 2007 Significant discounting is probably the reason for an uptick in new home sales according to local builder, Lee Wetherington, whose Lakewood Ranch home based building company is also seeing an increase in new homes sales. The Herald Tribune’s article points out that some buyers are not willing ...
July New Home Sales Rise as Real Estate Market Continues to be a Mixed Bag
2007-08-25 04:53:00
The media would often have us believe that the current mortgage crisis has us on the verge of some massive economic collapse, yet we continue to see strength in the economy and surprising numbers in certain sectors of the real estate market. The mortgage situation isn’t something to ignore, but we heard the cries of “real ...
Ask yourselves America why the MSM would report new home sales falling 10%
2007-08-24 19:01:00
Ya wonder if the MSM misses the REIC ads. Or if they're really that dumb.Or both.Chart courtesy of Doom. Spin courtesy of the MSM.Home Sales Rise WASHINGTON (AP) -- Sales of new homes perked up, while factory orders took off in July, raising hopes that the economy can safely weather financial turmoil that has shaken Wall Street.
New Home Sales ?Improvement? a Non-Event
2007-08-24 17:51:00
Once more, Wall Street does a "cut-and-paste" job with the monthly spin on the new home numbers, and once more, an annoyed Twist puts down her spoon and Wheaties to tackle it first thing in the morning.  I never can find the patience to wait and post the next day, when the morning’s headline from ...
U.S. new home sales plunge
2007-07-27 15:58:00
Sales of new homes fell in June by the largest amount in five months as the housing industry continued to struggle with its worst downturn in 16 years. The Commerce Department reported that sales of new single-family homes dropped by 6.6 per cent last month to a seasonally adjusted annual rate of 834,000 units. The ...
New Home Sales Down 22 Percent From Last Year - Dow Down 300 Points
2007-07-26 20:25:00
While not surprising to many who are following the housing market, new home sales have dropped 6.6 percent from last month and 22 percent off of June, 2006. Pricing did not take the same hit, it was down 2.2 percent from last year. Builders are going to take a beating in the next few months. ...
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