Housing Data

[tsptalk]

Home prices suddenly jump after several months of declines

Home prices suddenly turned higher as mortgage rates slipped.

Prices nationally rose 0.16% in February, when seasonally adjusted, according to Black Knight.

In December and January, mortgage rates began pulling back, and homebuyers surged ahead.

https://www.cnbc.com/2023/04/03/home-prices-rise-after-declines.html

 

[tsptalk]

Homebuilder sentiment pulls out of negative territory for the first time in nearly a year

Builder confidence in the market for newly built single-family homes rose 5 points to 50 in May, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).

It’s the fifth straight month of gains and the first reading of builder sentiment since July that wasn’t negative.

Of the index’s three components, current sales conditions rose 5 points to 56, sales expectations in the next six months increased 7 points to 57, and buyer traffic climbed 2 points to 33.

https://www.cnbc.com/2023/05/16/homebuilder-sentiment-may-2023.html

 

[tsptalk]

Home sales barely budge from April to May in sluggish spring market

Home sales inched higher in May from April, according to the National Association of Realtors.

High interest rates, inflated prices and tight supply are weighing on the traditionally busy spring market.

Compared to a year earlier, sales fell more than 20%.

https://www.cnbc.com/2023/06/22/home-sales-flat-may.html

 

[tsptalk]

Sounds troubling but the low supply is not enough for demand and it is keeping prices lofty...


June home sales drop to the slowest pace in 14 years as short supply chokes the market

June home sales were 18.9% lower compared with last year. That is the slowest sales pace for June since 2009.

“There are simply not enough homes for sale,” said Lawrence Yun, chief economist for the Realtors.

https://www.cnbc.com/2023/07/20/june-home-sales-drop-to-the-slowest-pace-in-14-years.html

 

[TommyIV]

And the high mortgage rates are killing demand as well.

 

[tsptalk]

Home sales fall again in July, as supply drops to near quarter-century low

The median price of a home sold in July was $406,700, an increase of 1.9% from July of last year.

Sales fell month-to-month in all regions except the West, where they gained 2.7%. Sales fell the most in the Northeast, down 5.9%.

There were 1.11 million homes for sale at the end of July, 14.6% fewer than July 2022 and about half of the pre-Covid supply.

https://www.cnbc.com/2023/08/22/home-sales-drop-again-in-july-as-supply-drops-again.html

 

[tsptalk]

August Housing Starts

Highlights

There was a lack of growth in housing starts in August. Total starts declined 11.3% to a seasonally adjusted annual rate of 1.283 million units (Briefing.com consensus 1.435 million). Single-unit starts were down 4.3% to a seasonally adjusted annual rate of 941,000.
There was better news on the permits front. Total building permits increased 6.9% to 1.543 million (Briefing.com consensus 1.442 million) with permits for single units up 2.0% to 949,000.
Total starts were the weakest since June 2020.

Big Picture

The key takeaway from the report is that starts were clearly weak in August, yet the strength in permits -- a leading indicator -- lends some hope that September will feature better news on the home construction front, which is needed given the tight supply of existing homes for sale.

https://www.briefing.com/calendars/...230919083000HousingStarts&FileName=starts.htm

 

[tsptalk]

February home sales spike 9.5%, the largest monthly gain in a year, as supply improves

Sales of existing homes surged 9.5% in February from January to 4.38 million units, on a seasonally adjusted annualized basis, according to the National Association of Realtors.

Inventory rose 5.9% year over year to 1.07 million homes for sale at the end of February.

Higher demand continued to push the median price higher, up 5.7% from the year before to $384,500.

February home sales spike 9.5% as supply improves

 

[tsptalk]

March homes sales dropped despite a surge in supply. Here’s why.

The median price of an existing home sold in March was $393,500, up 4.8% from the year before.

Inventory did improve slightly, rising 4.7% month-to-month to 1.11 million homes for sale at the end of March.

Regionally, sales fell everywhere except in the North, where they rose 4.2% month-to-month. Sales fell hardest in the West, down 8.2%. Prices are highest in the West.

More: March homes sales dropped despite a surge in supply. Here'''s why.

 

[tsptalk]

Home prices hit record high in May as sales stall

The inventory of homes for sale jumped in May, up 6.7% month to month and 18.5% higher than in May last year.

The median price of an existing home sold in May was $419,300, a record-high price in the Realtors’ recording, and up 5.8% year over year.

Home prices hit record high in May as sales stall

 

[tsptalk]

Home prices hit record high in June on S&P Case-Shiller Index

Prices nationally were 5.4% higher than June 2023.

New York saw the highest annual gain among the top 20 cities, with prices increasing 9% in June, followed by San Diego and Las Vegas with annual increases of 8.7% and 8.5%, respectively.

Portland, Oregon saw just a 0.8% annual increase in June, the smallest gain of the top cities.

Home prices hit record high in June on S&P Case-Shiller Index

 

[tsptalk]

November home sales surged more than expected, boosted by lower mortgage rates

• Sales of previously owned homes rose 4.8% in November compared with October, according to the National Association of Realtors

• Sales were 6.1% higher than November 2023, the largest annual gain in three years.

https://www.cnbc.com/2024/12/19/november-home-sales-surged-more-than-expected.html