Foreclosures Drop 27%
March 15, 2011 by admin
Filed under foreclosures, new homes, Real Estate Articles
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This is the biggest drop ever in history!
Meanwhile New home sales is driving much of the current home sales and helping to end the housing slump.
“Existing home sales produce some economic activity but it pales in comparison with new home sales,” said David Crowe, the chief economist for the national Association of Home Builders. “We calculate that for every 100,000 homes built, it creates 150,000 construction jobs but another 150,000 manufacturing jobs building refrigerators, furniture and other products.”
http://money.cnn.com/2011/03/10/real_estate/february_foreclosure_realtytrac/index.htm
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New-Home Sales Rise 6.6%
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Sales of newly built, single-family homes rose 6.6% in September to a seasonally adjusted annual rate of 307,000 units, their best pace since June, according to data released by the U.S. Commerce Department in Oct. 27.
“The fact that new-home sales are finally moving in the right direction — albeit slowly — is definitely good news following an exceptionally quiet summer at builders’ sales offices and model homes,” said NAHB Chairman Bob Jones. “The road to recovery will be a long one, however, and a key hurdle that must be surpassed is the lack of available credit for new-home construction so that builders can meet improving demand for new homes moving forward.”
“This suggests that builders continue to prudently winnow down their inventories,” he said. “That said, the concern is that builders’ ongoing difficulty in accessing production credit will keep the razor-thin supply of new homes from being replenished as consumer demand revives, thereby hindering the positive momentum.”
“Beyond the higher sales figure, another positive piece of data provided by September’s report was the number of newly built, unsold homes on the market, which has been steadily declining since spring of 2007 and fell again to a modest 205,000 units in September,” said NAHB Chief Economist David Crowe.
http://eyeonhousing.wordpress.com/
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New Homes Sales Jump 6.6%
- Image by Getty Images via @daylife
Sales of new homes climbed 6.6% in September 2010,to a seasonally adjusted annualized rate of 307,00, according to figures released by the federal government. This is representing the second straight month of gains.
A recent report showed sales of existing homes were also stronger than expected, rising 10%, and the two reports lend support to some economists who believe housing demand hit a bottom in late summer.
“After dropping precipitously following the expiration of the first-time home buyer tax credit, it looks as though new home sales have stabilized,” said Nicholas Tenev, an economist at Barclays Capital. “We expect a gradual recovery over the coming months.”
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New Home Sales Up 9.6%
August 26, 2009 by admin
Filed under Positive Real Estate
The U.S. Department of Commerce reported Wednesday that sales of new homes rose 9.6 percent in July, to a seasonally adjusted annual rate of 433,000. That’s above the revised June rate of 395,000, but 13.4 percent below July 2008’s rate of 500,000.
Home sales in the South rose 16.2 percent in July over June. Only the Northeast fared better, with home sales up 32.4 percent in the same month-over-month period.
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June New Homes Report Rise
August 1, 2009 by admin
Filed under Positive Real Estate
Sales of newly built single-family homes rose 11 percent in June to an annualized rate of 384,000, according to a report released Monday by the U.S. Department of Housing and Urban Development.
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New Homes $ales Up 3rd Month in Row
July 28, 2009 by admin
Filed under Positive Real Estate
Sales of new single family homes increased by 11% in June. Making a seasonally adjusted annual rate of 384,000 units. This according to the U.S. Commerce Department. This increase marks a third consecutive month of improved sales activity.
“This is good news that indicates the nation’s housing market may be in the process of turning the corner,” said Joe Robson, chairman of the National Association of Home Builders (NAHB) and a home builder from Tulsa, Okla. “That said, the key to moving us out of recession is to get Americans back to work. Congress and the Administration should know that housing can be a significant generator of good jobs. We need to make housing a priority in the recovery process, otherwise we could continue to bounce along a bottom for some time.”
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New Home Sales Increase Almost 5%
March 31, 2009 by admin
Filed under Positive Real Estate
New home sales purchases in the U.S. unexpectedly rose 4.7 % in February from a record low as plummeting prices and cheaper mortgage rates lured some buyers.
Sales increased 4.7 percent to an annual pace of 337,000 after a 322,000 rate in January, the Commerce Department said today in Washington. The median sales price fell 18 percent from February 2008, the biggest year-on-year drop since records began in 1964, and the glut of properties on the market dwindled.
“It’s a step in the right direction,” said Jonathan Basile, an economist at Credit Suisse Holdings USA in New York, who had forecast sales would rise. “Lower prices and mortgage rates are starting to get buyers back. We still have a lot of supply to absorb before things get back to normal.”
Bloomberg
