New home construction shoots up 22.6% in July

Housing Wire

New home construction continues to climb, as privately owned single-family housing starts in July were at a seasonally adjusted annual rate of 1.496 million, a 22.6% Homebuilders have supported sales by drawing down existing inventories of homes previously started.

What’s Happening in New Home Construction and Sales?

McKissock

Residential construction and new home sales have been making quite a few headlines lately. Keep reading to catch up on the latest stories and market data related to new home construction and sales. ” New home construction in the news.

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Positive revisions boost new home sales report

Housing Wire

In Tuesday’s new home sales report from the Census Bureau , monthly supply hit recent highs at 6.2 The new home sales market is a small but essential part of the overall market and the economy. months at the current sales rate.

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New home sales battled scorching prices in April

Housing Wire

Adjusting to seasonal effects, MBA estimates that new home sales in April rebounded from a two-month slump, increasing 8 percent to an annualized pace of 770,000 units,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

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Increase in housing starts has construction playing catch-up

Housing Wire

Low interest rates , a tight supply of existing homes for sale, and a trend towards purchasing homes in suburban areas has contributed to strong demand for new single-family homes. The current housing market is characterized by robust demand, but not enough homes for sale,” Kushi said.

Barbara Lawlor on how the pandemic impacted pre-construction sales

REM Online

The original post can be found at the following URL: Barbara Lawlor on how the pandemic impacted pre-construction sales. In March, everything just stopped,” says Barbara Lawlor of Baker Real Estate Incorporated, which specializes in pre-construction residential and condominium sales.

Home Builders Ramp Up Construction Based on Demand

Keeping Current Matters

Early indicators show new-home construction is beginning to ramp up. Evangelou refers to the volume of new homes where construction began during a set period, known in the industry as housing starts. Thus, housing construction is trending upward with housing starts likely to reach 1.6

New home sales fall to lowest pace in a year

Housing Wire

Sales of newly built , single-family homes fell to the lowest pace in a year, down 5.9% Regionally, new home sales rose in two of the four regions in May. Sales grew 33% in the Northeast, 6.7% Against the backdrop of the COVID-19 pandemic, new home sales are still 9.2%

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Why you shouldn’t worry about the drop in new home sales

Housing Wire

Today the Census Bureau reported that in February 2021, new single-family home sales were at a seasonally adjusted annual rate of 775,000. Although sales were up 716,000 compared to sales in February 2020, they were 18.2% (±13.9%) below the revised sales in January 2021 of 948,000.

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Home sale prices reach record highs — again

Housing Wire

The effects of low housing inventory continue to cause significant ripples in the housing market, as a recent Redfin report shows home sale prices across the country have reached an average of $344,625 — an all-time high, and an 18% increase year over year.

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Building material prices take their toll on new home sales

Housing Wire

Record-high building material prices and a continued lack of labor brought down new home sales in April to a seasonally adjusted annual rate of 863,000 ? April’s new home sales are nearly double that of April 2020’s estimate of 582,000. months at the current sales rate.

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TCS Marketing Systems: Bringing ‘humanity’ to pre-construction sales

REM Online

The original post can be found at the following URL: TCS Marketing Systems: Bringing ‘humanity’ to pre-construction sales. TCS Marketing Systems managing partner Mark Cohen has a goal: to be influential in adding humanity to the process of pre-construction sales.

Existing home sales dip downwards for fourth month

Housing Wire

Existing home sales fell for the fourth consecutive month in May, down.9% According to the NAR, despite existing home sales falling, activity is slowly approaching pre-pandemic levels. Regionally, only the Midwest experienced higher existing home sales from the month prior.

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Why new home sales are finally moderating

Housing Wire

But, we hadn’t seen that moderation in any meaningful way until today’s new home sales data. The new home sales marketplace has been showing abnormally fast growth for the last several months. months at the current sales rate.”

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New home sales begin to cool in November

Housing Wire

Sales of newly built homes occurred at a seasonally-adjusted annual rate of 841,000 in November – 11% below October’s 945,000 revised rate , the Census Bureau reported on Wednesday. “Prior to the data revision, the month’s supply of homes for sale at the current pace was only 3.3,

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Pending home sales rebound in March

Housing Wire

The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3 By coincidence,” the NAR explained, “The volume of existing homes sales in 2001 fell within the range of 5 to 5.5

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Pending home sales reach highest May mark in 16 years

Housing Wire

Pending home sales reached its highest mark for the month of May since 2005, up 8% from the previous month of April as low inventory continues driving buyers to snatch up available real estate. regions reported month-over-month and year-over-year home sale gains, per a release from the NAR.

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New home sales plunge 18.2%, but demand stays strong

Housing Wire

After a near decade high in January, new home sales for single-family houses plummeted 18.2% However, continued demand by homebuyers did manage to push new home sales 8.2% As for the West, new sales dropped 9.3% months at the current sales rate.

Sales 419

New home sales dip for third consecutive month

Housing Wire

New home sales continued to slip in June, falling 6.6% The median sales price of new houses sold in June 2021 was $361,800. The average sales price was $428,700. ” The post New home sales dip for third consecutive month appeared first on HousingWire.

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Should You Buy an Existing Home or New Construction?

Keeping Current Matters

With so few homes for sale and construction of newly built homes ramping up , you may be wondering if you should consider new construction in your search process. New Construction . Another solid benefit to new construction is customization.

The best new home sales report ever

Housing Wire

Only then would we see enough demand from the new home sales market to warrant that much construction. This hasn’t happened yet, but the recent hew home sales report indicates we are getting there. months at the current sales rate.” Now, new home sales are 41.5%

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New Home Sales Steady in July

Eyes on Housing

As the market has cooled due to higher costs, July recorded a slight gain of 1% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD.

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Existing home sales surge 9.4% in September

Housing Wire

Sales of existing homes took off in September, jumping 9.4% Compared to a year ago, sales are up 20.9%. The primary constraint to even more sales is the plummeting inventory of homes on the market, which is leading to bidding wars and spikes in home prices across the country.

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Average home sale price hits all-time record

Housing Wire

The median home sale price increased 16% year-over-year to $331,590 – an all-time high, per a report this week from Redfin. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased to 100.2%.

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New home sales fall due to low inventory and high prices

Housing Wire

the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Overall, the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 741,000 units in May 2021.

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NAHB: Multifamily Construction Sentiment Improves

RIS Media

All three components increased in the first quarter: the component measuring low-rent units rose four points to 46, the component measuring market rate rental units increased six points to 54 and the component measuring for-sale units jumped 13 points to 52.

Residential Construction Loan Volume Moves Higher

Eyes on Housing

Ending a period of volume decline that began at the end of 2019, the volume of residential construction lending posted an increase during the first quarter of 2021. The volume of 1-4 unit residential construction loans made.

The Community and Economic Impacts of a Home Sale

Keeping Current Matters

Home purchases and sales are significant drivers of economic activity. The National Association of Realtors (NAR) releases a report each year that highlights just how much economic activity a home sale generates. For Buyers For Sellers Housing Market Updates New Construction

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Expansion for Single-Family Built-for-Rent Construction

Eyes on Housing

The number of single-family built-for-rent (SFBFR) construction starts is expanding as demand for single-family structures, both for-sale and for-rent, remains strong. Single-family built-for-rent construction differs with respect.

Pending home sales drop, but there’s a silver lining

Housing Wire

pending home sales dipped – this time, down 2.8% Pending home sales fell in January because there are simply not enough homes to match the demand on the market,” said Lawrence Yun, NAR chief economist. In the last few years, the number of existing single-family homes for sale has decreased. And even with another month-to-month drop, pending home sales were 13% higher in January 2021 than they were in January 2020.

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United Country Real Estate: New-Home Construction Sales Boosting Inventory

RIS Media

With inventory continuing to be at record lows in 2021, a new trend is developing in the real estate market regarding new-home construction. ” Of the new construction being built, many of them are more energy efficient and have more technology integrated into the homes.

2020 home sales hit highest level since 2006

Housing Wire

Existing home sales rose in December, and total home sales in 2020 reached the highest level in 13 years, according to the National Association of Realtors. Sales also rose 0.7% Experts project low mortgage rates to continue driving home sales in 2021.

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Residential Construction Jobs Rise, Commercial Lags

RIS Media

Within residential construction, general contractor and other related jobs increased by 15,200—a huge relief for a market that’s being squeezed by a lack of inventory. ” Regarding sales jobs within real estate, fierce competition continues. The June jobs report from the U.S.

New Home Sales Slow in June

Eyes on Housing

for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. Read More › Economics economics home building new home sales sales single-familyAs supply-side challenges continue, June recorded a decline of 6.6%

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Knowing new construction gives you a competitive edge — here’s why

Inman

In the meantime, studying the economy, real estate market statistics and particularly the new home construction process will make you a fierce competitor in today’s market and the future. . The inventory shortage isn’t going to last forever.