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Why new home sales are disappointing, despite beating estimates

Housing Wire

Todays new home sales report beat market expectations, just like last weeks existing home sales report. From Census : New Home Sales : Sales of new single-family houses in December 2024 were at a seasonally adjusted annual rate of 698,000, according to estimates released jointly today by the U.S. percent (19.7

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New-home sales beat estimates but need a dose of reality

Housing Wire

With new-home sales growing since 2022, why are housing starts at recessionary levels? We had no growth in residential construction work hiring earlier in the year when rates were higher. I recently raised this concern about housing construction and new home sales in an interview on CNBC. percent (±14.7 percent (±18.6

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Home sellers who didn’t list on the MLS lost $1B in sale proceeds: Zillow

Housing Wire

Home sellers who did not list their properties on the MLS lost out on more than $1 billion in sale proceeds over the past two years, according to a study published Monday by Zillow. million sales transactions, comparing homes that sold on the MLS with privately listed sales. loss recorded in majority-white neighborhoods.

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As the lock-in effect eases, the market for new homes is shrinking

Housing Wire

As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. NAR data shows that the annualized rate of existing-home sales dropped 1% from August to September, landing at 3.84 The sales pace was down 3.5% million units.

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Southern construction boom is aiding housing affordability

Housing Wire

But increased activity in residential construction , particularly in the South, is helping to alleviate affordability challenges in certain regions, according to ananalysis from First American Financial Corp. This construction boom is contributing to slower home-price appreciation and, in some cases, price declines. Census Bureau data.

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Did new home sales really just crash?

Housing Wire

Did today’s new home sales report really show an epic crash in sales? New home sales reports can be quite volatile from month to month. In this case, several factors contributed to the substantial decline in new home sales. In this case, several factors contributed to the substantial decline in new home sales.

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The homebuilders’ 2025 supply and demand problem

Housing Wire

New home sales grew over last month in the latest Census report , but homebuilders are now facing a supply issue their inventory is building up. Monthly new home sales have been stagnant for the past two years. When mortgage rates decline, sales improve, but it becomes more challenging for builders and buyers when rates rise.