Sales of previously owned U.S. homes fell in March to the lowest since June 2020 as historically low inventory paired with rising mortgage rates curbed purchases.
Sales of previously owned U.S. homes fell in March to the lowest since June 2020 as historically low inventory paired with rising mortgage rates curbed purchases.
Despite lean inventory, efforts by builders to boost production have been hindered by supply-chain challenges, soaring materials costs and difficult hiring conditions.
Despite lean inventory, efforts by builders to boost production have been hindered by supply-chain challenges, soaring materials costs and difficult hiring conditions.
Sales of new U.S. homes plummeted in April by the most in nearly nine years, dented by the combination of high prices and a steep climb in mortgage rates.
Sales of new U.S. homes plummeted in April by the most in nearly nine years, dented by the combination of high prices and a steep climb in mortgage rates.
The U.S. government is reporting that privatelyโowned housing starts in June were at a seasonally adjusted annual rate of 1,559,000, which is 2% lower than Mayโs revised number and 6.3% lower than one year ago.ย Juneโs rate for units in buildings with five units or more was 568k.ย Privatelyโowned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,685,000, which is 0.6% lower than Mayโs revised number.ย Authorizations of units in build...
The U.S. government is reporting that privatelyโowned housing starts in June were at a seasonally adjusted annual rate of 1,559,000, which is 2% lower than Mayโs revised number and 6.3% lower than one year ago.ย Juneโs rate for units in buildings with five units or more was 568k.ย Privatelyโowned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,685,000, which is 0.6% lower than Mayโs revised number.ย Authorizations of units in build...
The magic of ridiculously inflated home prices meeting holy-moly mortgage rates. Byย Wolf Richterย forย WOLF STREET. Sales of previously-owned homes of all types โ single-family houses, condos, co-ops, and townhouses โ dropped by 5.4% in June from May, the fifth month in a row of month-to-month declines, based on the seasonally adjusted annual rate of sales. And sales dropped by 14.2% from a year ago, the 11th month in a row of year-over-year declines. The sales declines have been accelerati...
The magic of ridiculously inflated home prices meeting holy-moly mortgage rates. Byย Wolf Richterย forย WOLF STREET. Sales of previously-owned homes of all types โ single-family houses, condos, co-ops, and townhouses โ dropped by 5.4% in June from May, the fifth month in a row of month-to-month declines, based on the seasonally adjusted annual rate of sales. And sales dropped by 14.2% from a year ago, the 11th month in a row of year-over-year declines. The sales declines have been accelerati...
The numbers:ย U.S. new home sales plunged 8.1% to a seasonally-adjusted rate of 590,000 in June, from a revised 642,000 in the prior month, the Commerce Department reported Tuesday. The number of new homes sold is the lowest since April 2020, during the depths of the coronavirus pandemic. Sales have fallen since hitting a peak of 1.04 million in August 2020. Analysts polled by the Wall Street Journal had forecast new home sales to come in at 660,000 in June. Year-over-year, new home sales are do...
The numbers:ย U.S. new home sales plunged 8.1% to a seasonally-adjusted rate of 590,000 in June, from a revised 642,000 in the prior month, the Commerce Department reported Tuesday. The number of new homes sold is the lowest since April 2020, during the depths of the coronavirus pandemic. Sales have fallen since hitting a peak of 1.04 million in August 2020. Analysts polled by the Wall Street Journal had forecast new home sales to come in at 660,000 in June. Year-over-year, new home sales are do...
Contract closings decreased 2.4% in April from the prior month to an annualized 5.61 million, figures from the National Association of Realtors showed Thursday.
Contract closings decreased 2.4% in April from the prior month to an annualized 5.61 million, figures from the National Association of Realtors showed Thursday.
Sales of new U.S. homes jumped in May, reflecting gains in the West and South and interrupting a months-long skid as the residential real estate market adjusts to rising borrowing costs and still-elevated prices.Purchases of new single-family homes increased 10.7% to an annualized 696,000 pace, the first gain this year, government data showed Friday. The figure followed an upwardly revised 629,000 in April. The median forecast in a Bloomberg survey of economists called for a 590,000 rate.ย Whil...
Sales of new U.S. homes jumped in May, reflecting gains in the West and South and interrupting a months-long skid as the residential real estate market adjusts to rising borrowing costs and still-elevated prices.Purchases of new single-family homes increased 10.7% to an annualized 696,000 pace, the first gain this year, government data showed Friday. The figure followed an upwardly revised 629,000 in April. The median forecast in a Bloomberg survey of economists called for a 590,000 rate.ย Whil...
