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Unsold homebuilder inventory is ticking up as new home sales slow

Housing Wire

After a boost in July, the sales pace of new homes slowed in August, according to data published on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). In August, the sales pace of new homes fell 8.7% On a year-over-year basis, new home sales were up 5.8%.

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New home sales continue to climb in 2023

Housing Wire

New home sales started off 2023 on a positive note, rising 7.2% Census Bureau and the Department of Housing and Urban Development (HUD) on Friday. This marks the second consecutive month of increases and the strongest sales pace since March 2022. On a year-over-year basis, however, new home sales are still down 19.4%.

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New home sales dip 2.5% in June, but continue to be an outsized share of the housing market

Housing Wire

Despite yet another increase in homebuilder sentiment , the sales pace of new homes declined month over month in June, according to data published on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). In June, the sales pace of new homes fell 2.5% compared to June 2022.

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Homebuilders are still smiling (and cutting down on sales incentives)

Housing Wire

The NAHB/HMI report is based on a monthly survey of NAHB members, in which homebuilders are asked to rate both current market conditions for the sale of new homes and expected conditions for the next six months, as well as traffic of prospective buyers of new homes. This is the index’s highest reading since June 2022.

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7 Smart Ways To Lower the Cost of Buying a New-Construction Home

Realtor.com

Compare that with a preexisting home’s median price of $396,300 , and it’s clear that buying brand-new might set you back tens of thousands of dollars extra. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.

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US housing market is now worth a record $52 trillion: Zillow

Housing Wire

Fueling this increase is new construction, according to Divounguy, even though the 1.3% A steady flow of new homes have hit the market this spring and summer, as homebuilders worked diligently to remedy the housing inventory shortage. Additionally, nearly 16% of total home sales in August were new homes.

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The Most Luxurious New Construction Condo Developments in the U.S. Right Now

Realty Biz

Residential construction in the U.S. Despite declines in both affordability and availability, however, the luxury new construction condo market across the country features more than a few intriguing options, starting with these high-profile developments: 1000M – Chicago, IL. The Fairweather – Raleigh, NC.