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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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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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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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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.

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New-home sales hit highest level since 2021

Housing Wire

New home sales continue to be a bright spot in a dismal housing market. Census Bureau and Department of Housing and Urban Development shows new-home sales registering at a seasonally adjusted annual rate of 698,000, good for a 6.7% Even better, new home sales for the calendar year 2024 are estimated at 683,000, which is 2.5%

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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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Existing-home sales finish a dismal year on a high note

Housing Wire

Existing home sales finished 2024 on a high note after a dismal year for the housing market. The December report from the National Association of Realtors (NAR) shows existing-home sales at a seasonally adjusted annual rate of 4.24 Sales in 2024 finished at just 4.06 New construction has not been able to keep up with demand.

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