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Posts Tagged ‘new single family’

New Home Sales Rise in August

September 26th, 2013 Comments off

The National Association of Home Builders (NAHB) reports August sales of new, single-family homes rose 7.9 percent to a seasonally-adjusted annual rate (SAAR) of 421,000 units, offsetting a slight decline in July resulting from a rise in mortgage rates. Says NAHB Chief Economist David Crowe, “We are only about halfway back to what would be considered a sustainable level of activity in a normal economy, and the ongoing housing recovery continues to be slowed by consumers’ concerns about interest rates, as well as weak job growth and uncertainty about what’s happening in Washington.” As MHProNews has learned, regionally new home sales in the South increased 15.3 percent, 19.6 percent in the Midwest, and 8.8 percent in the Northeast. Only the West experienced a decline, falling 14.6 percent.

(Photo credit: Reuters–new home sold)

Builder Confidence Holds Steady in September

September 17th, 2013 Comments off

According to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI), builder confidence in the market for new, single-family homes remained unchanged in Sept. at 58. “While builder confidence is holding at the highest level in nearly eight years, many are reporting some hesitancy on the part of buyers due to the sharp increase in interest rates,” said NAHB Chairman Rick Judson. Based on builder perceptions of current sales, sales expectations for the next six months and traffic of prospective buyers, the survey has been used for 25 years, and any number over 50 indicates more builders see conditions as good rather than poor. MHProNews has learned all four regions recorded gains: The Midwest and the West each advanced four points, and the Northeast and South both saw gains of two points.

(Photo credit: Wikipedia)

Mood Continues to Brighten for Home Builders

August 15th, 2013 Comments off

Builder confidence for new, single-family homes rose three points to 59, according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI), bringing the index to its highest mark in almost eight years. Any number over 50 is rated as “good”, MHProNews has learned. The index measures current sales, traffic of prospective customers and sales expectations for the next six months. Says NAHB Chief Economist David Crowe, “Builder confidence continues to strengthen along with rising demand for a limited supply of new and existing homes in most local markets. However, this positive momentum is being slowed by the ongoing headwinds of tight credit and low supplies of finished lots and labor.” Regionally, the Midwest gained six points to 60, the West also moved up six points, to 57, while the South notched a four-point gain and the Northeast remained steady at 39.

(Photo credit: Sue Orgocki/Associated Press)

New Home Sales Rise in June

July 24th, 2013 Comments off

Sales of new single-family homes spiked 8.3 percent in June to a seasonally-adjusted annual rate of 497,000 units, says the National Association of Home Builders (NAHB), their best pace in the last five years, according to the Dept. of Housing and Urban Development and the Census Bureau. The inventory of 161,000 new homes for sale in June marks a thin, 3.9 month inventory at the current sales pace, the lowest level since March of 2004. Rick Judson, NAHB Chairman, says, “The very low supply of new homes on the market is indicative of the difficulty that builders are having in keeping up with demand due to availability issues with regard to materials, credit, labor and lots for development.” Regionally, three of four experienced gains in new home sales: The Northeast increased 18.5 percent, the West posted a 13.8 percent gain, and the South moved up 10.p percent. The Midwest fell 11.8 percent, as MHProNews has learned.

(Photo credit: Fotosearch)

New Single-family Home Sales Drop

March 26th, 2013 Comments off

According to nationalmortgagenews the sale of new single-family homes dropped in February 4.6 percent from January on a seasonally-adjusted annual rate (SAAR) to 411,000, although last month’s sales still rose 12.3 percent over February 2012. The seasonally adjusted number of new homes available at the end of February hit 152,000, the equivalent of a 4.4 month supply. MHProNews has learned the median sales price of a home sold in February was $246,800, and the average sales price was $313,700.

(Image credit: Mike Irwin/wenatcheeworld)

Survey Predicts Good News for 2013 Housing

January 4th, 2013 Comments off

According to BloombergBusinessWeek‘s survey of 15 economists and housing analysts, existing home sales will increase 7.2 percent in 2013 to 4.98 million, the most since 2007. Prices will move up 3.3 percent this year, a slight retreat from the 4.5 percent rise in 2012. The loss of inventory in 2012 will lead to a 24 percent spike in single and multifamily housing starts this year of 967,000 units, again the best number since 2007. These are median estimates of the respondents polled. MHProNews has been informed 17 analysts have predicted 448,000 new single-family houses will be sold in 2013, an increase of 23 percent. Mark Kiesel, of Pacific Investment Management Co. in Newport Beach, Calif., who predicted the 2006 bursting of the home price bubble, says, “Residential investments potentially could grow between 20 percent and 30 percent” in 2013, adding as much as 0.75 percent to U.S. gross domestic product growth.

(Photo credit: BloombergBusinessWeek)

Builder Confidence Improves

December 19th, 2012 Comments off

The National Association for Home Builders/Wells Fargo Housing Market Index (HMI) reports builder confidence for new single-family homes rose two points in Dec. to 47, the highest level since April 2006. The HMI rates builders perceptions of market conditions based on current traffic, sales expectations for the next six months, and current sales to reach a composite where any number above 50 indicates sales conditions are good rather than poor. “While there is still much room for improvement, the consistent upward trend in builder confidence over the past year is indicative of the gradual recovery that has been taking place in housing markets nationwide and that we expect to continue in 2013,” noted NAHB Chief Economist David Crowe. As MHProNews understands, NAHB has been conducting this survey for 25 years.

(Photo credit: Fotosearch)

Builder Confidence Grows

November 19th, 2012 Comments off

In another sign of an improving housing market, the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reports builder confidence in the market for new, single-family homes gained five points to 46. Marking the seventh consecutive monthly gain, and this is the highest reading since May 2006. Says NAHB Chief Economist David Crowe, “While our confidence gauge has yet to breach the 50 mark — at which point an equal number of builders view sales conditions as good versus poor — we have certainly made substantial progress since this time last year, when the HMI stood at 19.” Gains were posted in all four regions. The South rose to 43 points, the Midwest gained three points to 45, and the West moved up three points also to 47. As MHProNews has learned, the Northeast posted a gain to 31, but the survey was conducted in the two weeks immediately following Hurricane Sandy and reflects builder sentiment during that event.

(Photo credit: United Forest Products, Inc.)

New Home Sales Rise

October 24th, 2012 Comments off

Based on data from HUD and the U.S. Census Bureau, the National Association of Home Builders NAHB) reports new single-family home construction rose 5.7 percent in Sept. to a seasonally-adjusted annual rate (SAAR) of 389,000 units. This marks the best sales rate in 2 1/2 years. NAHB Chief Economist David Crowe says, “Meanwhile, despite a small increase in the inventory of new homes on the market in September, the number of completed new homes for sale is now at an all-time low and the month’s supply is at its tightest since October 2005. This is an indication that builders continue to have a tough time obtaining construction credit, even as demand for new homes increases.” Regionally, new home sales rose 16.7 percent in the Northeast, 16.8 percent in the South, and 3.9 percent out West. However, as MHProNews has learned, the Midwest registered a 37.3 percent drop. New home inventory edged up to 145,000 units in Sept., a 4.5 month supply at the current rate of sales.

(Photo credit: FotoSearch)

New Home Construction Hits Four-year High

October 17th, 2012 1 comment

The National Association of Home Builders says statistics from HUD and the U.S. Census Bureau report new home construction shot up 15 percent to a seasonally-adjusted annual rate (SAAR) of 872,000 units. New single-family home construction accounted for 11 percent of the increase, 603,000 units, the best rate since Aug. of 2008. New multi-family home production spiked 25.1 percent to 269,000 units, the best pace since Sept. 2008. Meanwhile, permit issuance for new home construction rose 11.6 percent in Sept. to 864,000 units. MHProNews has learned new home construction and permit issuance rates are the strongest numbers in both categories in over four years. Regionally, new home construction rose in three of the four area, with only the Northeast showing a decline.

(Photo credit: ComstockPremium)