Tag Archive | “new home sales”

New Home Sales Climbed 6%

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With a larger-than-expected gain in sales there has been a rebound in the housing spread to the new home-sector last month.

Seasonally adjusted annual rate for single-family homes

According to the U.S. Census Bureau and the Department of Housing and Urban Development sales of new, single-family homes were at a seasonally adjusted annual rate of 430,000.


It has been noted at 6.2% above the revised September rate of 405,000 and compared to the rates in October of last year it is 5.1% higher.

Number of New Houses

In October it has also been said by the government that the median sales price of new houses sold was $212,200. The number of new houses that has been listed for sale at the end of the month was 239,000, a 6.7 month supply at the current sales rate.

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An Upturn in Housing Driven by Current Mortgage Rates

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Over the past couple of months the housing data that has been released suggests that a housing recovery is near or it may be said that it is already underway. A “perfect storm” for a housing turn around has been created by the combination of low current mortgage rates along with historically high home affordability and the first-time home buyer tax credit of $8,000.


Housing sales are increasing, the price of homes has been at the rise in the past five months in a row and for both new home and existing homes the supply of homes for sale are down. Here you should keep in mind that this improved housing data is occurring during a recession, raising unemployment and a slight uptick in mortgage rates in the past few weeks, there are even more reason to presume that a turn around has started.

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December 2010
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