New-home sales tumble to a 10-month low in December as recovery remains rocky By. Even with a double-digit December decline, 2016 brought 12.2% more sales than 2015. New-home sales declined.
Highlights of new-home sales (December) Single-family home sales fell 9.3 percent m/m, the most since Aug. 2016, to 625k annualized pace (est. 675k) after 689k rate (revised from 733k). Median sales price increased 2.6 percent y/y to $335,400.
New-home construction in the U.S. unexpectedly fell in December. declined 2.5 percent to a 1.15 million annualized rate, from the prior month’s revised 1.18 million pace, a Commerce Department.
February’s foreclosure inventory fell to lowest rate since 1999 The foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, hit 0.7% in July. This is down from 0.9% last year, and the lowest since July 2007.
Sales of new single-family homes dropped sharply last month as severe winter weather and higher mortgage rates continued to slow the housing recovery. New home. declined 21.5% in the Midwest and 14.
“It’s still the third-highest number we’ve ever had in terms of home sales,” said Dave Cummings, director of communications for NHAR. “There haven’t been a whole lot of years when we’ve had more than.
The median forecast of 76 economists surveyed by Bloomberg called for 470,000 new-home sales at an annual. Existing home sales dropped more than expected in January as prices accelerated and.
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Existing Home Sales Decline Sharply in December By Fan-Yu Kuo on January 22, 2019 (). total existing-home sales, released by the National Association of Realtors, decreased 6.4% to a seasonally adjusted rate of 4.99 million in December, after two consecutive months of increase.Compared with a year ago, sales decreased 10.3% in December, the lowest level since November 2015.
Economists had forecast new home sales would. represents a 6.1 month inventory at the December sales pace, the lowest level in more than a year. The Census Bureau is minutes away from releasing new.
U.S. Existing Home Sales Decline Than Expected in December. The consensus forecast was for a 2.2% decline to 5.72 million units in decline. The data helps to gauge the strength of the U.S. housing market and is considered to be a key indicator of overall economic strength. Despite the disappointing end to 2017,
New-home sales estimates. rose more than forecast in January to the highest level since February 2007, National Association of Realtors data showed wednesday. inventory reported its 20th.
New Home Sales Hit Post-Recession High in November. Average home price declined to $377,100. Managing rising construction costs in the months ahead will be a key challenge for housing affordability, as input costs increase. Indeed, strong sales growth was recorded in the $200,000 to $300,000 price class, with such sales up 30% for November 2017 compared to November 2016.