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DataDigest: What the latest data says about home prices, construction and sales

Housing Wire

Census Bureau and the Department of Housing and Urban Development. Homebuilders are also pacing the number of homes they bring to market. Home construction New home construction ramped up early in the pandemic but moderated as interest rates ticked up and mortgage rates followed. The figure – up 17.7%

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US housing market is short 5.5 million homes, NAR says

Housing Wire

The National Association of Realtors says the current state of the housing market is absolutely “dire,” the consequence of a housing shortage 30 years in the making. According to the lobbying group, construction of long-term housing fell 5.5 From 1968 to 2000, the total stock of U.S.

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New home sales make it clear: Housing is in a recession

Housing Wire

This data line confirms what we all know to be the case: The housing market, at least as it relates to construction, is in a recession. Since the summer of 2020, I have genuinely believed the housing market could change once the 10-year yield broke over 1.94%. In response, they stalled construction for 30 months.

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Higher rates flip the homebuilders’ fortunes (again)

Housing Wire

New home sales From Census : Sales of new single-family houses in January 2023 were at a seasonally adjusted annual rate of 670,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. months and below, this is an excellent market for builders.

Inventory 466
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Homebuilders are feeling pretty good right now

Housing Wire

Homebuilder confidence is continuing to trend upward this spring, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Tuesday. While this is fueling cautious optimism among builders, they continue to face ongoing challenges to meet a growing demand for new construction.

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Here’s why new home sales are up along with prices

Housing Wire

From Census: New Home Sales Sales of new single-family houses in October 2022 were at a seasonally adjusted annual rate of 632,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. We are well below the 2000 recession level and back to 1996 levels.

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Where’s the bottom for new home sales?

Housing Wire

New home sales are now below the recession levels of 2000 and have fallen all the way to 1996 levels, when interest rates were near 8%. From Census : New Home Sales of new single-family houses in September 2022 were at a seasonally adjusted annual rate of 603,000, according to estimates released jointly today by the U.S. This is 10.9