Category Archives: David Nice

New Home Sales Rise: South Leads the Way

In August 552,000 new homes were sold, 30,000 more than were sold in July. Much of the increase was driven by a pop in sales in the South, with the West and Northeast posting modest increases as well.

Existing Home Sales Pulled Back in August

Existing home sales pulled back in August, after posting three consecutive months of growth. Sales were down 270,000 to 5.3 million units sold on an annualized basis. The decline is off of an eight-year high set in July.

Housing Starts Miss Expectations

In August, builders started on 1.126 million homes. That was a slowdown from last month’s downwardly revised data and can be chalked up to the Northeast’s multifamily sector; that continues to pull back after the expiration of tax incentives, which had pulled forward a lot of multifamily starts in the region. Total single-family starts, which [...]

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