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Housing, News

Sales of new homes drop by double-digits

By Mike Wheatley | May 27, 2022
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 […]
Housing, News

New home sales slip as builders fail to meet demand

By Mike Wheatley | March 28, 2022
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 […]
Home Builders/Developer's, Home Sales

New home sales declined in November amid rising prices

By Mike Wheatley | December 26, 2021
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 […]

New home sales rise despite 20% price gains

By Mike Wheatley | September 28, 2021
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, […]
Home Builders/Developer's

New home sales slip as buyers are priced out

By Mike Wheatley | July 29, 2021
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 […]
Home Builders/Developer's

Builders have started auctioning new homes to the highest bidder

By Mike Wheatley | May 27, 2021
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 […]
Home Sales

Buyers look to new homes, and inventory is drying up

By Mike Wheatley | November 30, 2020
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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