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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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.

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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.

New home sales juggernaut continues

Housing Wire

Sales of new homes rose to an annualized rate of 999,000 in October – 0.3% With October’s data in, new home sales have had the strongest three-month stretch since mid-2006, with each month falling just short of 1 million. months at the current sales rate.

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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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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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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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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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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.

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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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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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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.

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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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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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.

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.

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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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.

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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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.

Holy smokes — new home sales are up 32.1% year over year

Housing Wire

The one economic sector that has blown away my estimates this year has been the new home sales market. This dramatically slowed the rate of growth in construction in 2019. Today new home sales are up 32.1% The median sales price of new houses sold in September 2020 was $326,800.

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Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

If the February trend continued, total existing home sales would have been higher: we probably would have ended the year with sales between 5,7100,000 and 5,8400,000, a noticeable jump from last year’s number of roughly 5.3 million total home sales by the end of the year.

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Sales of New-Construction Homes Rebound to Pre-Coronavirus Levels, Rising 10% in July

Redfin

A surge in homebuilding before the pandemic is now driving growth in new-home sales. Sales of newly-built homes climbed 10.1% year over year in July, recovering to pre-pandemic levels, while sales of existing homes rose just 5.3%.

New Home Sales Jump in March on High Consumer Demand

Eye on Housing

New single-family home sales surged in March as housing demand was supported by low interest rates and strong consumer demand, despite the ongoing building materials challenges impacting the housing industry. Census Bureau estimated sales of newly built, single-family homes in March at a 1.02

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Pending-home sales increase following 2 months of declines: NAR

Inman

The pending home sales index rose from the previous month in every U.S. Pending Home Sales Indexregion but the Midwest, while all regions saw gains year over year.

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The #1 Reason Not to Wait to List Your House for Sale

Keeping Current Matters

Purchaser demand is so high, the market is running out of available homes for sale. The National Association of Realtors (NAR) revealed that, while home sales are skyrocketing, the inventory of existing homes for sale is dropping dramatically.

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New Home Sales Decline Due to Higher Costs

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 housing new home sales sales single-family

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Multifamily Condo Construction Starts Fell 28% in 2020

Eye on Housing

According to NAHB analysis of quarterly Census data, the market share of rental units of total multifamily construction starts ticked higher to near 97% during the fourth quarter of 2020.

Single-Family Built-for-Rent Construction Expands

Eye on Housing

The SFBFR market is a way to add single-family inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period of when people want more space and single-family structures.

Employment gains could help housing inventory

Housing Wire

Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. Total construction employment remains 182,000 below its February 2020 level.

Why we can’t build our way out of this hot housing market

Housing Wire

Even in the years 2020 to 2024, however, which are very favorable for housing, I don’t see a credit sales boom or construction boom brewing in the current data — nor do I expect to see either of these shortly.

Sale and Contract Prices per Square Foot in 2019

Eye on Housing

According to NAHB’s analysis of the 2019 Survey of Construction data, the highest median square foot sale and contract prices are registered in the West and Northeast. Looking at single-family for-sale.

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Demand for Houses Boosts Home Construction

Realtor.com

George Frey/Bloomberg via Getty Images A surge in home-buying demand and limited inventory for existing homes is spurring construction to help fill the gap. New single-family-home sales rose 13.9% Booming demand also has pushed sales of previously owned homes to multiyear highs.

New Home Sales Edge Higher in January

Eye on Housing

After a slight slowing of sales at the end of 2020, new single-family home sales edged higher in January, increasing 4.3% Sales exceeded construction starts by a historic margin at the end of the summer, which necessitated an increase in starts and some slowing.

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Construction Loans End 2020 Lower

Eye on Housing

Continuing a period of volume decline that began at the end of 2019, the volume of residential construction lending posted a slight decline during the fourth quarter of 2020.

New single-family home sales show housing had ‘blockbuster month’

Inman

New single-family home sales climbed 36.3 Markets & Economy News Brief Select construction home sales homebuilders lumber tariffs new home sales permits Redfinpercent year over year, according to data released by the U.S.

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New Home Sales Fall 6% in April as Buyers and Builders Balk at Rising Construction Costs

Realtor.com

Chris Delmas/AFP via Getty Images) The numbers: New home sales fell in April by nearly 6% as affordability constraints begin to weigh on home buyers. New residential sales occurred at a seasonally-adjusted annual rate of 863,000 in April, the U.S.

Inman Handbook on new-home sales

Inman

New-home sales illuminate the health of the market and where it might be heading in the near-term. As agents grapple with tight inventory, they'll want to keep an eye on the data.

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