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Oct 26

New Home Supply Remains Firmly In “Seller’s Market” Territory

The U.S. housing market appears headed for a strong close to 2012. According to the U.S. Census Bureau, the number of new homes sold jumped to 389,000 units in September 2012 on a seasonally-adjusted, annualized basis. Not since the expiration of the $8,000 federal home buyer tax credit in April 2010 have new homes sold at such volumes. September's tally marks a 5.7 percent increase from the month prior, and a 27 percent increase from September 2011. There are now just 145,000 new homes … [Read more...]

May 24

New Home Sales Rise For 7th Month Out Of 8

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┬áto a┬áseasonally-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 … [Read more...]

Apr 25

New Home Sales Revised Higher In February; Slip 7% In March

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 DC 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 … [Read more...]

Mar 27

New Home Sales Slip In February

Sales of "new homes" fell to the lowest levels in four months last month. According to the Census Bureau's monthly New Home Sales report, 313,000 new homes were sold in February 2012 on a seasonally-adjusted, annualized basis, representing a 1.6% drop from the month prior. A "new home" is a home for which there has been no prior owner nor tenant. At first glance, the data looks negative for the housing market; a suggestion that the well-publicized housing market recovery may be slowed. However, … [Read more...]