Thread: Housing Data

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...ops-again.html

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/e...ame=starts.htm

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

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.