New home sales declined in January on rising interest rates but still posted a steady reading as demand remains strong. Sales of newly built, single-family homes in January fell 4.5% to an 801,000 seasonally adjusted annual rate from a sharp upwardly revised reading in December, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
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Housing Starts Show Strength in November; Permits Up
Single-family housing showed strength in November despite supply-chain limitations for materials and ongoing access issues for labor and lots. Overall housing starts increased 11.8% to a seasonally adjusted annual rate of 1.68 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Read MoreNew Home Sales Flat in October
Contracts for new, single-family home sales were flat at a 745,000 seasonally adjusted annual rate in October, according to estimates from a joint release by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. However, the flat reading was due to a significant downward revision for the September pace (revised from an 800,000 rate to 742,000).
Read MoreTotal Housing Starts Rise in August
Strong multifamily production helped push overall housing starts up in August as single-family starts edged lower due to ongoing supply chain issues and labor challenges. Total starts increased 3.9% to a seasonally adjusted annual rate of 1.62 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Read MoreNew Single-Family Home Sales Rise
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 the Department of Housing and Urban Development.
Read MoreNew Home Sales Soften in April
Rising building materials costs and low inventory have caused new home sales prices to jump 20% on a year-over-year basis, harming housing affordability and driving down the pace of new home sales. Sales of newly built, single-family homes fell 5.9%, following a significant downward revision of the March estimate, to a 863,000 seasonally adjusted annual rate, according to newly released data by the U.S.…
Read MoreNew Home Sales Jump in March
Low interest rates and strong consumer demand fueled a solid increase in new home sales in March, despite the ongoing building materials challenges impacting the industry, according to the National Association of Home Builders (NAHB).
Read MoreManufacturing an Economic Bright Spot
Jan. 26, 2021 – U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead, according to Reuters.
Read MoreSeptember New Home Sales Pause Following Strong Summer Surge
Sales of newly built, single-family homes in September fell 3.5% to 959,000 from a downwardly revised August number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Despite the monthly decline, the September rate is 32.1% higher than the September 2019 pace, and on a year-to-date basis, new home sales…
Read MoreBuy a House If You Can Find One
Oct. 19, 2020 – There is an interesting statistic released by the National Association of Home Builders: Home sales are outpacing starts by a historic margin. Housing demand has increased so rapidly in recent months that there is now an unprecedented gap between sales and home construction. Sales of new single-family homes in August increased 4.8% to an annual rate…
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