Aug 29, 2012 | Housing Analysis
The market for newly-built homes remains strong.
As reported by the U.S. Department of Commerce, 372,000 new homes were sold in July on a seasonally-adjusted, annualized basis. A “new home” is a home that can be considered new construction.
July’s New Home Sales report highlights what today’s buyers of new construction and the nation’s home builders have witnessed for themselves already — that the market for newly-built homes is improving in Massachusetts and nationwide.
The number of new homes sold in July on a seasonally-adjusted, annualized basis matches the tally from May 2012, and is the highest reading since April 2010, the last month of that year’s federal home buyer tax credit. (more…)
Jul 26, 2012 | Housing Analysis
The number of newly-built homes sold slipped 8 percent in June from the month prior, says the U.S. Census Bureau in its latest New Home Sales report. The June data shows 350,000 homes sold nationwide on a seasonally-adjusted, annualized basis.
The home sale tally fell short of Wall Street expectations but the Census Bureau revised higher its previously-released results for March, April and May by a collective 33,000 units. This left the June New Home Sales report as the weakest of the last five months, yet still stronger than the 21 months preceding February.
In other words, despite retreating from May, the June New Home Sales data was still quite strong. As compared to June of last year, sales of newly-built homes are higher by 15% and the national inventory of new homes for sale is down to 144,000 units.
This marks a 13 percent inventory reduction in just twelve months.
At the current sales pace nationwide, the complete stock of new homes would “sell out” in 4.9 months, a noteworthy data point because analysts believe that a 6.0-month supply of (more…)
Jun 27, 2012 | Housing Analysis
The new construction market continues to improve.
As reported by the Census Bureau, 369,000 new homes were sold last month on a seasonally-adjusted, annualized basis. A “new home” is a home that is considered new construction.
May’s data marks the highest number of new homes sold since April 2010, the last month of that year’s federal home buyer tax credit.
It’s also a 14% increase over the rolling 12-month average.
The news was somewhat expected based on the most recent Homebuilder Confidence survey, which rose to a 5-year high. Home builders have been reporting higher sales volume and rising buyer foot traffic since October of last year.
The May New Home Sales report confirms (more…)
May 24, 2012 | Housing Analysis
The April New Home Sales report suggests that the market for newly-built homes is as strong as the market for existing ones.
According to the U.S. Census Bureau, the number of new homes sold rose 3.3 percent in April to a seasonally-adjusted, annualized 343,000 units sold — its second-highest reading since April 2010.
April 2010 marked the last month of that year’s federal home buyer tax credit program.
April’s New Home Sales data also marks the 7th of eight consecutive months during which the number of new homes sold climbed nationwide, a streak unequaled in recent history. During this period, the supply of new homes for sale has dropped 13%.
The complete new home inventory is down to 146,000 homes nationwide.
At the current pace of sales, home buyers in Worcester County area and across the county would exhaust the complete supply of newly-built homes in 5.1 months. (more…)
Apr 25, 2012 | Housing Analysis
Sales of new homes ticked lower in March, unexpectedly.
Based on Census Bureau data, the number of new, single-family homes sold in March slipped 7 percent from February — the largest one-month drop in more than a year.
On a seasonally-adjusted, annualized basis, buyers in Worcester County area and nationwide purchased 328,000 newly-built homes last month. The decrease in sales from February to March can be attributed, in part, though, to a massive upward revision in February’s figures.
Last month, the Census Bureau had reported 313,000 new home sales in February on a seasonally-adjusted, annualized basis. This month, those sales were re-measured to be 353,000 — an increase of 13 percent.
January’s sales were revised higher, too.
The long-term trend in the market for new homes remains “up”. This is no more apparent than when we look at the available new home inventory.
At the close of March, just 144,000 new homes were available for purchase, down 2,000 from the month prior and representing the most sparse new home housing supply since at least 1993, the year that the Census Bureau starting tracking such data. (more…)
