Sales of new homes drop by double-digits

New home buyers are being deterred by higher prices, and that became readily apparent in April with a big slump in sales numbers for homes. Sales of new, single-family homes dropped by 16.6% in April, falling to their weakest pace in two years, according to data from the Department of Housing and Urban Development and

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New home sales slip as builders fail to meet demand

Sales of new homes dipped in February amid shortages of both building materials and labor. Those challenges also impacted on new home supply, which remains tight as ever. While demand from buyers remains high, builders are struggling to add more inventory of new home sales. Data from the U.S. Census Bureau and the Department of

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New home sales declined in November amid rising prices

Sales of new homes fell by 14% in November, well below expectations, due to rising prices that analysts say are forcing many prospective buyers out of the picture. The report from the U.S. Census Bureau said that while sales fell in November, the median price of newly built homes rose by 19% from the same

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New home sales rise despite 20% price gains

Sales of new homes jumped in August even as buyers had to contend with prices making steady gains. The higher development costs and prices of building materials have sent new home costs soaring, with the median price rising 20% from one year ago. In August, the median sales price for a new home hit $390,000,

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New home sales slip as buyers are priced out

New home sales have fallen to their lowest level since the early days of the COVID-19 pandemic, suggesting that the housing boom could be coming to an end. Data from the U.S. Census Bureau released Monday shows that new single-family home sales in June fell to a seasonally-adjusted rate of 676,000 units, down 6.6% from

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Builders have started auctioning new homes to the highest bidder

Home builders are fending off so many interested buyers that they have had to stop signing new sales contracts in order to focus on catching up with existing orders. That’s according to a report in Bloomberg this week, which said that builders have been overwhelmed as buyers turn to the new home market to make

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Buyers look to new homes, and inventory is drying up

The National Association of Home Builders says buyers are increasingly looking at new homes due to the low inventory of existing homes. In October, new home sales were up 41.5% compared to the same month last year, according to data from the Commerce Department. “Buyer traffic remained strong in October even as the country’s attention

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Taylor Morrison reports record new home sales in June

In a validation of the health of the new home market, Taylor Morrison, the fifth largest homebuilder in the U.S., reported a record monthly gain in June in orders for new home construction, up 94% year-over-year. The builder also reported record sales in 22 housing markets across 11 states. “To experience our best sales month

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New home sales hit hard by COVID-19

Sales of new homes were going strong in 2020 until the coronavirus began disrupting economic activity in the country. As a result, sales of new-built single family homes fell by 15.4% in March compared to one year ago, to just 627,000 units, according to data released Thursday from the U.S. Census Bureau and Department of

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New home sales hit 12-year high

New home sales enjoyed their best three-month performance since 2007 after seeing a big uptick in November, according to U.S. Commerce Department data published Monday. Economists say low mortgage rates and unemployment combined with strong sales growth led to the boost in sales. All told, sales of new single-family homes jumped 1.3% in November to

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