News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Jeffrey Sparshott and Kate Davidson / Wall Street Journal / May 26, 2015
Sales of newly built homes rebounded in April, a sign the housing market may be slowly warming up. New-home sales climbed 6.8% from March to a seasonally adjusted annual rate of 517,000, the Commerce Department said Tuesday.
Economists surveyed by The Wall Street Journal predicted sales would rise 6% in April to a rate of 510,000. Over the past year, new-home purchases are up 26.1%.
New-home sales reflect about one-tenth of all home purchases, and monthly estimates are typically revised as more data become available. The April figure has a margin for error of plus or minus 15.8%.
Brad Hunter / Metrostudy / March 24, 2015Read More
David Crowe / Eye on Housing/ October 2, 2014
New home sales rebounded in August, increasing 18% to a seasonally adjusted annual rate of 504,000, according to estimates from the Census Bureau and HUD. These gains were atop upward revisions for the July pace. The August rate is 33% higher than August 2013 and is a solid indication of the ongoing recovery in the single-family market.
The inventory of new single-family homes inched up to 206,000 on a non-seasonally adjusted basis in August. Of this total, only 48,000 were completed, ready-to-occupy residences. In terms of months’ supply, the inventory of new single-family sales fellRead More
Robert Dietz / Eye on Housing / July 25, 2014
The share of new single-family home sales purchased with cash rose during the second quarter of 2014, reaching 8.4% of sales.
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 FHA and the Department of Veteran’s Affairs (VA), as well as cash purchases.
The second quarter data from the Census Bureau’s Quarterly Sales by Price and Financing indicates that count of cash-based new home sales rose to 10,000 for the quarter, matching a cycle high. During theRead More
Brad Hunter / Metrostudy / July 24, 2014
New home sales data from the Census Bureau showed a drop of 8.1% on a seasonally-adjusted basis. The decline since the beginning of the year comes to 11%.
The northeastern U.S. markets slowed sharply.
In June, and so far in July, we are back to a situation where home shoppers are shopping but a relatively small proportion of them are actually buying. This is explained in some cases by a long lead time (people taking longer to make a decision), and in other cases by a complete reluctance to buy.
Here is a look at the last year in New Home Sales by region showing sales have decreased slightly over theRead More