Follow Me on Twitter

New Home Sales In July Drop to All-Time Low

Dennis Norman

The good news is May’s new home sales rate of 267,000, which was the lowest sales rate on record, was revised upward to 281,000.  The bad news is June’s sales rate of 330,000 was revised downward to 315,000 and now new home sales for July were reported at 276,000 the new lowest rate [...]

New Home Sales Increase 23 percent to Second-Worst Rate on Record

Dennis Norman

Yes, the headline is correct….New home sales in June were up 23 percent from May, but unfortunately the revised May annual new home sales rate of 267,000 was the lowest rate of sale on record therefore even after a 23.6 percent increase it only brought June up to 330,000 new homes, a rate [...]

New-Home Sales Crash In May after Sugar-Rush of Tax Credit Sales

Dennis Norman

Last month after the new home sales reports came out I had this to say:

“I’m very encouraged by home sales in March and April, both in new homes and existing home sales and, if it wasn’t for the fact the homebuyer tax-credit incentive expired April 30th, no doubt a factor [...]

Tax Credit Deadline Spurs New Home Sales in April; Prices Drop

Dennis Norman

The U.S. Department of Commerce released a report showing the sale of New Homes in April were at a seasonally adjusted annual rate of 504,000, a 14.8 percent increase from the revised March rate of 439,000 and is 47.8 percent above a year ago.
The inventory of new homes (seasonally adjusted) at the [...]

New Home Sales Spike in March – Market Showing Signs of Stabilizing

Dennis Norman

The U.S. Department of Commerce released a report showing the sale of New Homes in March were at a seasonally adjusted annual rate of 411,000, a 26.9 percent increase from the revised February rate of 324,000 and is 23.8 percent above a year ago.
The inventory of new homes (seasonally adjusted) at the end [...]

New Home Sales Drop in February

Dennis Norman

The U.S. Department of Commerce released a report showing the sale of New Homes in February were at a seasonally adjusted annual rate of 308,000, a 2.2 percent decrease from the revised January rate of 315,000 and is 13.0 percent below a year ago.
The inventory of new homes (seasonally adjsuted) at the end [...]

New Home Sales Plummet In January

Dennis Norman

The U.S. Department of Commerce released a report showing the sale of New Homes in January were at a seasonally adjusted annual rate of 309,000, an 11.2 percent decrease from the revised December rate of 348,000 and is 6.1 percent below a year ago.
The inventory of new homes (seasonally adjsuted) at the [...]

New Home Sales Fall again in December

Dennis Norman

The U.S. Department of Commerce released a report showing the sale of New Homes in December were at a seasonally adjusted annual rate of 342,000, a 7.6 percent decrease from the revised November rate of 370,000 and is 8.6 percent below a year ago.

My Mantra

As has been my long-running mantra, I don’t like [...]

What does 2010 hold in store for the Housing Market?

Dennis Norman

In a just a few days we will say goodbye to 2009; a year that has been brutal to the housing market. So as the new year comes in, what will 2010 hold in store for the housing market?

To answer this question I turned to the housing forecast just released by Fannie [...]

New home sales take a dive in November

Dennis Norman

New homes were started in November at an annual rate of 482,000 homes and I asked why in my post last week since new home construction was already outpacing sales….well, today the gap got worse..

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in November were [...]

New Home Sales in US through October; UP 5.1 percent OR DOWN 24.1 percent from a year ago, take your pick

Dennis Norman

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in October were at a seasonally adjusted annual rate of 430,000, a 6.2 percent increase from the revised September rate of 405,000 and is 5.1 percent above a year ago.

My Mantra

As has been my long-running mantra, I [...]

New Homes Sold Through September down 26.6 Percent from Year Before

Dennis Norman

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in September were at a seasonally adjusted annual rate of 402,000, a 3.6 percent decrease from the revised August rate of 417,000 and is 7.8 percent below a year ago.

Like I pointed out however, in my post [...]

New home sales increase almost 10 percent in July; New home inventory drops to 7.5 months

Dennis Norman

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in July were at a seasonally adjusted annual rate of 433,000, a 9.6 percent increase from June and makes the fourth consecutive month of new home sales increases.

The Northeast region saw the biggest monthly increase in new [...]

New home market showing strength – new home inventory declines

By: Dennis Norman

Dennis Norman

The new home market continue to shows some life coming back to it which should be encouraging news to investors.  This morning the U.S. Department of Commerce released a report showing the sale of New Homes in June were at a seasonally adjusted annual rate of 384,000, an 11% increase from May.  

While [...]

New home sales increase in May in 3 of 4 regions of US

Dennis Norman

By: Dennis Norman

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in May were at a seasonally adjusted annual rate of 342,000.  this represents a 0.6% drop from Aprils rate of 344,000 and is almost 33% down from a year ago.

Three of the four regions in the [...]

New Home Sales Level Off in February

By: Dennis Norman:  

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in March decreased 0.6 percent from February and is 30.6% less than a year ago.

A decline of less than 1%, following last February’s increase of 4.7% in sales I think again shows the market is perhaps leveling off.  [...]

New home sales & prices fall: Opportunity for the investor?

By: Dennis Norman

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in January was down 10.2% from December and down over 48% from a year ago.

Prices on new homes continue to drop as well.  The median price for January was $201,100, down 2.6% from Decembers

Tweet [...]

Latest Housing Numbers – Prices & Volume drop more

By: Dennis Norman

This morning the National Association of REALTORS(R) released data for existing home sales for November.   The numbers show sales of existing homes down 8.6% nationwide versus October and down 10.6% versus last year.  The Northeast saw the biggest decline in sales being down 12.0% versus last month and 18.0% versus last year.  The west region only [...]