New home sales in the United States bounced back with a 20.7% increase in March after a surprising 18.2% decline in February, according to Commerce Department data released Friday. The robust gain, which came as sales surpassed 1 million for the second time this year, shows that February’s decline was most likely a weather-driven outlier when a winter ... READ MORE >
CHART OF THE DAY: Existing home sales slump but market remains hot
Sales of existing homes decreased 3.7% in March to an annual rate of 6.01 million for the second straight monthly decline, according to data from the National Association of Realtors released Thursday. But the decline was mostly driven by the dearth of inventory in the market, which continues to be below 1 million and came in at 900,000 in ... READ MORE >
CHART OF THE DAY: Housing is on fire
Housing starts skyrocketed 19.4% in March to 1.739 million, blowing past expectations of 1.613 million and well above the 1.5 million long-term equilibrium, according to government data released Friday. The robust increase is a reversal from February's dip, which in hindsight appears to have been related more to the deep freeze that gripped the nation ... READ MORE >
CHART OF THE DAY: New home sales drop 18.2% in February as market cools
The housing market continued to cool off from the torrid pace of last year as bad weather and rising costs took a toll in February. New home sales fell 18.2% last month, compared to January, to a seasonally adjusted 775,000 -- a nine-month low. At the same time, median home prices eased 1% to $349,400 nationally, according to government data released on ... READ MORE >
CHART OF THE DAY: Housing market hits the brakes
Throughout the pandemic, a bright spot in the American economy has been housing, which had incredible growth as buyers looking for more space in the suburbs took advantage of historically low interest rates. Homebuilders responded, pushing starts and permits above the projected 1.5 million long-term equilibrium rate between supply and demand during the ... READ MORE >
CHART OF THE DAY: New home sales continue to rise
The demand for new homes continues to be high as Americans take advantage of low interest rates and flee cities in search of more room. Sales of new homes in January increased by 4.3% month over month, exceeding expectations and climbing to a seasonally adjusted annual rate of 923,000, the Commerce Department reported on Wednesday. At the same time, ... READ MORE >
CHART OF THE DAY: New home sales bounce back
New home sales bounced back to 842,000 in December, representing a 1.8% increase over the previous month, the Commerce Department reported on Thursday. The 11% month-over-month decline in November was a jarring halt to the red-hot housing market that had new home sales in excess of 949,000 from July through October. While many saw that decline as a ... READ MORE >
CHART OF THE DAY: Housing activity continues to surge
Home builders remain active as the housing market closed out last year in a strong fashion. Housing starts rose by 5.8% to an annualized rate of 1.67 million in December, ending the year as one of the strongest in a decade, the Commerce Department reported on Thursday. And housing permits, an indicator of future activity, increased as well, by 4.5% to an ... READ MORE >
CHART OF THE DAY: Homes for the holidays
Oh, there’s no place like home for the holidays. So begins the holiday standard made famous by Perry Como. Composed in the 1950s by Robert Allen with lyrics by Al Stillman, the song seems fitting these days as Americans are lured to the suburbs, just as they were when Mr. C. was in his prime. Only this time around, instead of being fueled by postwar ... READ MORE >
CHART OF THE DAY: Existing home sales climb, further depleting inventory
Existing home sales increased to a seasonally adjusted annual rate of 6.85 million in October, representing a 4.3% increase month over month and the highest level since February 2006, according to data released Thursday by the National Association of Realtors. This increase, combined with homeowners’ reluctance to sell, has depleted inventory, which ... READ MORE >