Daily Archives: July 26, 2016

New home sales up | #Bedford Real Estate

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Sales of new single-family houses in the United States jumped 3.5 percent to a seasonally adjusted annual rate of 592,000 in June of 2016. It is the highest figure since February of 2008 and better than market expectations of 560,000 boosted by sales in the West and the Midwest. New Home Sales in the United States averaged 652.45 Thousand from 1963 until 2016, reaching an all time high of 1389 Thousand in July of 2005 and a record low of 270 Thousand in February of 2011. New Home Sales in the United States is reported by the U.S. Census Bureau.

United States New Home Sales

 

ActualPreviousHighestLowestDatesUnitFrequency
592.00572.001389.00270.001963 – 2016ThousandMonthly
Volume, SA
A sale of the new house occurs with the signing of a sales contract or the acceptance of a deposit. The house can be in any stage of construction: not yet started, under construction, or already completed. New home sales account for about 10 percent of the US housing market. New single-family home sales are extremely volatile month-to-month and preliminary figures are subject to large revisions because they are mostly drawn from building permits data. This page provides the latest reported value for – United States New Home Sales – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States New Home Sales – actual data, historical chart and calendar of releases – was last updated on July of 2016.
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http://www.tradingeconomics.com/united-states/new-home-sales

June housing starts jump | Bedford Corners Real Estate

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U.S. housing starts rose more than expected in June as construction activity increased broadly, but a downward revision to the prior month’s data pointed to a housing sector treading water in the second quarter.

Groundbreaking surged 4.8 percent to a seasonally adjusted annual pace of 1.19 million units, the Commerce Department said on Tuesday. May’s starts were revised down to a 1.14 million-unit pace from the previously reported 1.16 million-unit pace.

Economists polled by Reuters had forecast housing starts rising to a 1.17 million-unit pace last month.

Housing starts in the second quarter were a touch higher than the average for the first three months of the year, suggesting that residential construction was probably a small boost to gross domestic product in the second quarter.

The housing market is being supported by a strengthening labor market and demand for rental accommodation, but home building is being constrained by labor and land shortages.

A survey of homebuilders published on Monday showed scattered softness in some markets, with builders citing regulatory challenges, as well as shortages of lots and labor.

Groundbreaking on single-family homes, the largest segment of the market, increased 4.4 percent to a 778,000-unit pace in June. Single-family starts in the South, where most home building takes place, gained 0.5 percent.

Single-family starts jumped 31.6 percent in the Northeast and climbed 3.1 percent in West. Groundbreaking on single-family housing projects increased 7.3 percent in the Midwest.

But single-family home construction continues to run ahead of permits, which could limit gains in the near term.

Housing starts for the volatile multi-family segment rose 5.4 percent to a 411,000-unit pace. The multi-family segment of the market continues to be supported by strong demand for rental accommodation as some Americans remain wary of homeownership in the aftermath of the housing market collapse.

 

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http://www.foxbusiness.com/markets/2016/07/19/june-housing-starts-rise-4-8.html