Category Archives: David Nice

Solid New Home Sales in July

New home sales increased in July to an annualized level of 507,000; that is up a solid 26,000 from the previous month. The revision to June was essentially flat. Three of the four regions posted increases with the South leading the way, followed by the West and Northeast. The Midwest was the only region to [...]

Existing Home Sales Beat Expectations

In July, existing home sales topped expectations by coming in at 5.59 million homes (annualized) sold. Revisions to the previous month were essentially flat. The July increase was driven by gains in the South

Housing Starts Flat Despite Flicker in Single-Family

In July, housing starts ticked up 2,000 to 1.21 million. That comes after an upward revision of 30,000 to June. Though starts came in essentially flat for July, that does not tell the whole story.

Premium for New vs Existing Home Price

New Home Sales Lower on Weakness in South and West

New home sales fell to a 482,000 unit annualized pace In June, down 35,000 from May. That drop came on top of a 29,000 downward revision to the previous month. Sales in three of the four regions in the country were lower,

Existing Home Prices Hit New Highs

The median sales price for existing homes increased 6.5% in June from last year. That increase pushed prices above the previous peak set back in July 2006. Sales volume increased to 5.5 million last month, a level not seen since February 2007. Demand continued to outpace supply,

New Home Sales Surge

New home sales accelerated to a 546,000-unit pace in May. This data not only beat expectations but also comes after a strong upward revision to April. Both the Northeast and West posted increases from April

Home Sales Highest Since 2009

Existing home sales grew to 5.35 million on an annualized basis in May. That is the fastest pace of sales since November 2009 when sales were inflated by the temporary tax credit for first-time home buyers.

New Home Sales Rise in April

New home sales returned to a pace above 500,000 for the annualized rate, coming in above consensus at 517,000 for April. The Midwest and South led that increase while sales in the Northeast and West were essentially flat from the previous month. The median sale price rose to $297,300. At that level, the premium paid [...]

Housing Starts Snap Back in April

Housing starts snapped back in April after dismal reports for February and March. Total starts last month grew at a 1.14 million-unit, annualized pace on top of an upward revision to the previous month. Gains were led by the Northeast region