Posts Tagged housing

Builder Confidence Reaches 8-Month High in November

home builders

Home builders are feeling a lot better about where the new housing market is headed, thanks to a consistent increase in demand and a continuing struggle with real estate inventory. According to the latest information from the National Association of Home Builders (NAHB), builder confidence in the market for newly-built, single-family homes rose 2 points to a level of 70 in November, marking the highest reported confidence level since March and the second highest on record since July 2005.

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New Home Sales Pace Hits 10 Year High

newly built modern home

The pace of newly built, single family home sales hit a record high for September, rising 18.9 percent to a seasonally adjusted annual rate of 667,000 units from an upwardly revised August reading, according to data from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. This significant gain in new home sales helped push new home sales to its highest pace in a decade. 

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Pending home sales drop in May

House with for sale sign out front

Pending home sales fell for the third consecutive month as ongoing shortages in markets across the country cause prices to rise. The National Association of Realtors’ Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.8 percent to 108.5 in May from a downwardly revised 109.4 in April. According to a June 28 press release from NAR, the index is now 1.7 percent below a year ago, which marks the second annual decline in a row and the most recent since November and December of last year. Lawrence Yun, NAR chief economist, points to critically low inventory

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