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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. We talked about this in March , and even last year, when I wrote about the problem with the housing construction boom premise. “I don’t expect a boom in housing construction.

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D.R. Horton acquires homebuilding assets from Truland Homes

Housing Wire

We look forward to continuing as a key lot development partner for D.R. Horton has been the largest homebuilder by volume in the United States since 2002. Horton is involved in the construction and sale of both single-family and multi-family rental properties and holds a majority stake in Forestar Group Inc., ” D.R.

Contracts 363
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Builders only have 76,000 completed new homes for sale

Housing Wire

Census Bureau and the Department of Housing and Urban Development. As we can see in the chart below, sales levels aren’t exactly booming like they were from 2002-2005. months, the builders will pause construction. months, and we had a big miss on housing starts last week , mostly coming from multifamily construction.

Inventory 443
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Rocket’s IPO makes Dan Gilbert the 28th richest person in the world

Housing Wire

It also puts Gilbert ahead of Chinese real estate tycoon Hui Ka Yan, at No. He founded Quicken Loans in 1985, then named Rock Financial , and served as its CEO until 2002. The boost from the Rocket IPO puts Gilbert’s wealth right behind Michael Dell, the founder and CEO of Dell Technologies , No. Huang retired at the age of 33.

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The new home sales recession continues

Housing Wire

So for now, the builders will take their time with the homes under construction and make sure they offer enough incentives to unload the new home supply they’re dealing with. Census Bureau and the Department of Housing and Urban Development. can’t have a credit sales boom like we saw from 2002-2005. This is 12.6 percent (±16.9

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Are new home sales flagging a recession?

Housing Wire

Census Bureau and the Department of Housing and Urban Development. As you can see, sales levels were never elevated like what we saw from 2002-2005. This housing cycle is and will always be based on real demand, versus the credit boom we saw from 2002 to 2005. months and above, the builders will pull back on construction.

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New home sales report boosted by positive revisions

Housing Wire

It gives an idea of what to expect for housing construction. months and above, the builders will pull back on construction. The builders will pull back on construction growth if new homes sales start to head lower. Census Bureau and the Department of Housing and Urban Development. From Census: The seasonally?adjusted