Posts Tagged HUD

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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Fewer New Homes Sold in August

In periods of low real estate inventory, the new homes market can strengthen as demand for housing outpaces supply. However, in a curious turn of events, the U.S. housing market is currently seeing a drop in new home sales, while levels of housing inventory continue to recede. Newly built single-family homes are often looked at as a viable alternative to existing homes during times of tight market supply. After all, if there aren’t enough homes for sale and buyers are capable and motivated, developers can use these conditions to their advantage and begin building wherever possible. So why then are

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Decline in multifamily construction lowers nationwide housing starts in April

new construction

After a decline in multifamily production, housing starts across the country dropped 2.6 percent in April to a seasonally adjusted annual rate of 1.17 million units, according to recently released data from the U.S. Department of Housing and Urban Development (HUD). Multifamily housing starts fell 9.2 percent to a seasonally adjusted annual rate of 337,000 units while single-family production increased 0.4 percent to 835,000. 

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