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There are 462,000 houses to sell, corresponding to 9.2 months of supply in inventory. Sales rose sharply in the South (16% to 399K) and in the Northeast (+45.7% to 51K), more than offsetting the decline in the Midwest (-34.2% to 50K). The median price of new houses sold was $493,000, while the average sales price was $544,000. There were 470,000 houses left to sell, up 21.4% from one year ago and corresponding to 8.9 months of supply at the current sales rate. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale.
The dashed line shows the forecast values of the economic indicator for the specified dates. New Home Sales are considered to be a leading indicator compared to existing home sales. At NewHomeSource.com, we update the content on our site on a nightly basis. We seek to ensure that all of the data presented on the site regarding new homes and new home communities is current and accurate. It is your responsibility to independently verify the information on the site. A house is considered for sale when a permit to build has been issued in permit-issuing places or work has begun on the footings or foundation in nonpermit areas and a sales contract has not been signed nor a deposit accepted.
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The housing market has been hammered by aggressive Federal Reserve interest rate hikes that are aimed at curbing high inflation by dampening demand in the economy. The 30-year fixed mortgage rate breached 7% in October for the first time since 2002, data from mortgage finance agency Freddie Mac showed. Increased mortgage rates have forced many prospective purchasers to cancel contracts or postpone home purchases because they cannot afford the higher monthly payments. The increase in new-home inventories is assisting in slowing the price rise.
These estimates also include houses sold while under construction or after completion. This survey does not follow through to the completion ("closing") of the sales transaction, so even if the transaction is not finalized, the house is still considered sold. Economists polled by Reuters had forecast new home sales, which account for 10.6% of U.S. home sales, increasing to a rate of 700,000 units in July.
Data
Despite the rebound in May, elevated house prices and mortgage rates of near 6% are likely to continue to hit sales in the next months. Meanwhile, the median sales price of new houses sold last month was $449,000, up 15% from the previous year, and the average sales price was $511,400. There are now 7.7 months of supply in inventory, compared to 8.3 months in April. New home sales in the United States soared 28.8% from a month earlier to a 5-month high of 685K in August of 2022, and above market expectations of 500K. It was the biggest increase since June 2020 as sales rose in the Northeast (66.7%), the Midwest (16.7%), the South (29.4%), and the West (27.5%).
MacroVar calculates the number of months the United States new home sales has recorded new highs or lows. United States new home sales trend change is assumed when the specific indicator has recorded a 3-month high / low or more. The single-family statistics include fully detached, semidetached (semiattached, side-by-side), rowhouses, and townhouses. In the case of attached units, each must be separated from the adjacent unit by a ground-to-roof wall in order to be classified as a one-unit structure.
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To be included in the sales estimates the sales transaction must intend to include both the house and the land. All new houses are not included in our new residential sales estimates, only houses sold prior to being built or built for sale are included in these statistics. Excluded from these estimates are houses built for rent, houses built by the owner, and houses built by a general contractor on the owner's land. New Home Sales reflect a dollar value of sales of newly constructed residences in the United states in the given month. Also, houses built by land owners and houses built for leasing are not included.
In fact, existing home sales are severely depressed across the entire western United States, where sales fell 12.5% in November and were down 45.7% from a year ago. Data released Wednesday by the National Association of Realtors shows existing home sales nationwide dipped 7.7% from October to November and were down 35.4% from the previous year. The chart of the entire available history of the "United States New Home Sales" macroeconomic indicator.
home sales
New home sales in the United States fell 10.9% to a seasonally adjusted annualised rate of 603K in September of 2022, after jumping by a downwardly revised 24.7% in August and compared with market forecasts of 585K. Housing demand in the US has been sharply falling as the Federal Reserve is aggressively raising interest rates to combat the surge in inflation. Sales fell in the South (-20.2% to 356K) and the West (-0.7% to 135K) but rose in the Northeast (56% to 39K) and the Midwest (4.3% to 73K). The median sales price of new houses sold was $470,600, up 13.9% from a year ago and the average sales price was $517,700.
New home sales data is published monthly by the US Bureau of Census. The units displayed are in thousands and are the seasonally adjusted annual rate. Here is the regional breakdown for new home sales in the United States for the previous months. New Residential Sales data provides statistics on the sales of new privately-owned single-family residential structures in the United States. New single-family home sales in the United States reached a 6-and-a-half-year low in July. The seasonally‐adjusted estimate of new houses for sale at the end of August was 461,000.
About This Data The New Home Sales data above is the seasonally adjusted annual rate. There were 367,000 new homes on the market in July, the highest since November 2008 and up from 348,000 in June. New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it's released ahead of Existing Home Sales because the reports are tightly correlated. Economists polled by Reuters had forecast new home sales, which account for about 10% of US home sales, would decline to a rate of 570,000 units in October. New homebuyers made up just 28% of sales in November, which was the same rate as in October.
Reports this month showed single-family building permits fell in July, while confidence among homebuilders hit a 13-month low in August. MacroVar monitors global financial markets and economies using advanced Data Analytics. Sign up Free to manage your investments, trading & business strategy using MacroVar data analytics tools and historical data access. Find a lender who can offer competitive mortgage rates and help you with pre-approval. New residential sales estimates only include new single-family residential structures. RIGHT NOW is the best time of the year to take advantage of your home gym.
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Compared to July, sales increased by 28.8%, the largest monthly rise since June 2020. The median price of a new home sold in August was $436,800, a 0.3% decrease from July. Mortgage rates increased more than double as compared to the past year, but a decrease in July may have brought out buyers. Homebuyers who were on the fence may have been influenced by increased new house inventories. A house is considered sold when either a sales contract has been signed or a deposit accepted.
Census Bureau’s most recent press release and the methodology of its data compilation. The median number of months for sale is the median number of months from the month of completion to the current month. Houses sold prior to completion are excluded from the statistics for the median number of months for sale. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. New home sales were concentrated in the $200,000-$749,000 price range.
He’s also the host of the top-rated podcast – Passive Real Estate Investing. No matter what you're wanting to add to your home gym, these year-end deals at Dick's Sporting Goods have something for every individual. But time is of the essence here, so make sure to secure what you like ASAP or risk the chances of it selling out. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Last month's gain in new home sales was driven by a 1.3% rise in the populous South and a 14.4% jump in the West. Sales plunged 24.1% in the Northeast and decreased 20.2% in the Midwest.
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