Tag Archives: new home sales

New home sales fall to 1-year low

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New home sales are still up 9.2 percent year over year but have been falling since March, likely as a result of high home prices due to the rising cost of construction materials like lumber. Continue reading →

Fannie Mae has ‘meaningfully downgraded’ its forecast for 2021 home sales

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As listing shortages and supply constraints on homebuilders drive up prices, risk of inflation grows, economists with Fannie Mae said. Continue reading →

After stellar March, new-home sales reverse course, dip 6% in April

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The decline follows a record month for new-home sales, when they hit a 15-year high of more than 1 million in March, according to new data from the US Census Bureau. Continue reading →

NAR: Housing market is ‘topping out’ due to inventory shortage

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Lawrence Yun, chief economist for NAR, reports that the GDP is back to its pre-pandemic peak, consumers are ready to spend their stimulus checks and single-family housing starts are ramping up. Continue reading →

Rising lumber costs add $36K to new home sales prices

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The battle between supply and demand has hit the lumber industry hard, as mills struggle to keep up with demand and homebuilders push the costs to buyers. Continue reading →

New home sales hit 9-month low in February

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February’s seasonally adjusted annual rate of 775,000 was down 18.2 percent from January’s revised rate of 948,000. Continue reading →

Inventory crises could stretch into 2022 and beyond: Zillow

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Housing starts won’t reach the historical average of 1 million new units per month until at least 2022 or later, with the most pessimistic estimates stretching to 2029. Continue reading →

New York Fed calls US housing market ‘anemic’ and ‘lackluster’

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Existing-home sales activity lagged in June, with single-family home sales falling 1.5 percent to 4.69 million units, according to the report. Continue reading →