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 on record. Due to the dismal sales, the inventory of new homes on the market increased from an 8 month supply in June to a 9.1 month supply in July.

My Mantra

As has been my long-running mantra, I don’t like “seasonally adjusted” numbers and “rate” of sales. Why, for one I can’t figure out how in the world they compute the numbers. Second, I just don’t think discussing New Home Sales September 2009the “rate” of new home sales paints a realistic picture of the market. I think this holds especially true when we have artificial forces affecting the housing market such as tax credits as we have seen what an artificial “bubble” in the market this can cause.

Here is the raw data, the ACTUAL new homes sold- no fluff, no “adjusting”

  • 25,000 new homes s6old in July, a decrease of 13.8 percent from June’s 29,000 new homes sold (revised) and a 32.4 percent decrease from July 2009 when there were 38,000 new homes sold.
    • 60.0 percent (15,000) of the new homes sold were in the South region-
    • the west region had 4,000 new homes sold.
    • the Midwest had 4,000 new homes sold.
    • The Northeast had 3,000 new homes sold.
  • YTD – In the first seven months of 2010 there have been 207,000 new homes sold, a decrease of 8.0 percent from the same time last year.
  • Median sale price of new homes in the US in June was $204,000, a 6.0 percent decrease from June’s median new home price of $217,000 and 4.7 percent decrease from a year ago when the median new home price was $214,200.
  • New Homes in the US in July have been for sale for a median time of 11.3 months since the homes were completed, a 8 percent decrease from June’s revised figure of 12.3 months.

My prediction for 2010

I’m not feeling real optimistic about the housing market at this point and the possibility of a “double-dip” recession seems very real so I think after sticking with my original projection all year I need to adjust it downward at this point. Previously I said I felt there would be 336,600 – 355,000 new home sales in 2010 but now I’m going to say 300,000 – 336,600.

Print Friendly, PDF & Email

90 comments to New Home Sales In July Drop to All-Time Low

  • … [Trackback]

    […] Read More Info here to that Topic: stlouisrealestatenews.com/real-estate-market/new-home-sales-in-july-drop-to-all-time-low/ […]

  • I just want to tell you that I’m beginner to weblog and certainly loved you’re page. More than likely I’m planning to bookmark your blog . You certainly have really good writings. Appreciate it for sharing with us your blog site.

  • I very like this blog. Everything is cleared.

  • SEO

    I very like this blog. Everything is cleared.

  • … [Trackback]

    […] Read More to that Topic: stlouisrealestatenews.com/real-estate-market/new-home-sales-in-july-drop-to-all-time-low/ […]

  • Pretty nice post. I just stumbled upon your weblog and wanted to say that I’ve truly enjoyed browsing your blog posts. In any case I’ll be subscribing to your rss feed and I hope you write again soon!

  • I am impressed with this web site , really I am a big fan .

  • Do you believe past life hypnosis? Do you think is reincarnation real?

  • Way cool! Some extremely valid points! I appreciate you penning this article and also the rest of the site is really good.

  • Howdy, There’s no doubt that your website could possibly be having browser compatibility issues. Whenever I look at your blog in Safari, it looks fine however when opening in I.E., it’s got some overlapping issues. I simply wanted to provide you with a quick heads up! Besides that, fantastic blog!

  • A fascinating discussion is definitely worth comment. There’s no doubt that that you should publish more on this topic, it might not be a taboo matter but typically folks don’t talk about these issues. To the next! All the best!

  • I was very pleased to find this great site. I need to to thank you for ones time due to this fantastic read!! I definitely enjoyed every part of it and I have you saved as a favorite to look at new stuff on your website.

  • It’s nearly impossible to find knowledgeable people in this particular topic, however, you sound like you know what you’re talking about! Thanks

  • This is a good tip especially to those new to the blogosphere. Brief but very precise info… Many thanks for sharing this one. A must read post!

  • That is a good tip particularly to those fresh to the blogosphere. Short but very precise information… Thank you for sharing this one. A must read post.

  • Everyone loves it whenever people get together and share ideas. Great website, continue the good work!

  • There is definately a great deal to learn about this subject. I love all the points you have made.

  • Spot on with this write-up, I truly believe this site needs far more attention. I’ll probably be back again to read more, thanks for the advice!

  • I really like looking through an article that will make people think. Also, many thanks for allowing for me to comment.

  • After I originally commented I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I recieve 4 emails with the same comment. Is there an easy method you are able to remove me from that service? Kudos.

  • FreeSpinner is designed to help you to attract the visitors on your website.

  • I just desire to tell you that I am new to having a blog and really enjoyed your page. Probably I am likely to remember your blog post . You simply have impressive article materials. Like it for telling with us your current blog report

  • You are so cool! I don’t think I’ve truly read through anything like this before. So good to find somebody with unique thoughts on this topic. Seriously.. thanks for starting this up. This web site is one thing that’s needed on the web, someone with a bit of originality.

  • The very next time I read a blog, I hope that it won’t disappoint me just as much as this particular one. After all, I know it was my choice to read through, however I truly believed you would probably have something interesting to say. All I hear is a bunch of complaining about something that you could possibly fix if you were not too busy seeking attention.

  • I love it when individuals come together and share opinions. Great website, continue the good work!

  • Your style is really unique in comparison to other folks I’ve read stuff from. Thanks for posting when you have the opportunity, Guess I’ll just bookmark this blog.

  • … [Trackback]

    […] Find More Information here on that Topic: stlouisrealestatenews.com/real-estate-market/new-home-sales-in-july-drop-to-all-time-low/ […]

  • I like this web site so much, saved to my bookmarks. “To hold a pen is to be at war.” by Francois Marie Arouet Voltaire.

  • I was pretty pleased to uncover this web site. I want to to thank you for your time just for this wonderful read!! I definitely savored every little bit of it and I have you saved as a favorite to look at new things on your site.

  • Can I simply say what a relief to find an individual who really understands what they are talking about on the net. You certainly understand how to bring an issue to light and make it important. A lot more people really need to look at this and understand this side of your story. I can’t believe you are not more popular since you surely have the gift.

  • I have recently started a website, the information you offer on this website has helped me greatly. Thanks for all of your time & work. “The word ‘genius’ isn’t applicable in football. A genius is a guy like Norman Einstein.” by Joe Theismann.

  • … [Trackback]

    […] Read More Info here to that Topic: stlouisrealestatenews.com/real-estate-market/new-home-sales-in-july-drop-to-all-time-low/ […]

  • Some really fantastic posts on this internet site , thanks for contribution.

  • Pretty! This has been an incredibly wonderful article. Thanks for providing this information.

  • You’re so awesome! I don’t believe I have read through a single thing like this before. So wonderful to find someone with some genuine thoughts on this issue. Seriously.. many thanks for starting this up. This site is something that is required on the web, someone with a little originality.

  • I would like to thank you for the efforts you’ve put in penning this website. I’m hoping to see the same high-grade content from you later on as well. In fact, your creative writing abilities has encouraged me to get my own site now ;)

  • Greetings! Very useful advice within this article! It is the little changes that will make the most important changes. Thanks for sharing!

  • hi!,I like your writing very a lot! share we keep up a correspondence extra about your article on AOL? I require a specialist on this space to solve my problem. Maybe that is you! Looking forward to peer you.

  • The following time I check out a blog, I hope that it doesn’t disappoint me as much as this set. I indicate, I recognize it was my choice to read, yet I in fact thought youd have something fascinating to say. All I hear is a lot of yawping concerning something that you could take care of if you werent as well hectic seeking attention.

  • Howdy! This blog post could not be written any better! Going through this post reminds me of my previous roommate! He constantly kept talking about this. I’ll send this post to him. Pretty sure he will have a great read. Many thanks for sharing!

  • Wow! This can be one particular of the most beneficial blogs We’ve ever arrive across on this subject. Basically Fantastic. I’m also an expert in this topic so I can understand your hard work.

  • … [Trackback]

    […] Read More to that Topic: stlouisrealestatenews.com/real-estate-market/new-home-sales-in-july-drop-to-all-time-low/ […]

  • Everything is very open with a precise clarification of the challenges. It was really informative. Your site is very useful. Thanks for sharing!

  • I’m pretty pleased to find this page. I want to to thank you for ones time due to this fantastic read!! I definitely enjoyed every bit of it and I have you saved as a favorite to look at new things in your site.

  • Aw, this was an incredibly nice post. Taking the time and actual effort to make a very good article… but what can I say… I put things off a whole lot and never manage to get nearly anything done.

  • I simply have to share it with you that I am new to blog posting and really admired your webpage. Most likely I am likely to remember your blog post . You definitely have great article information. Get Pleasure From it for discussing with us your current internet site page

  • Having read this I believed it was very informative. I appreciate you finding the time and effort to put this short article together. I once again find myself personally spending a significant amount of time both reading and leaving comments. But so what, it was still worth it!

  • Very good information. Lucky me I came across your website by accident (stumbleupon). I’ve saved it for later!

  • I couldn’t refrain from commenting. Well written.

  • It can be almost extremely difficult to come across well-educated individuals on this area, unfortunately you seem like you are familiar with what exactly you’re preaching about! Excellent

  • Good article. I definitely appreciate this site. Keep it up!

  • Thanks for expressing your ideas. I’d also like to convey that video games have been actually evolving. Better technology and enhancements have served create authentic and fun games. All these entertainment video games were not that sensible when the actual concept was first of all being used. Just like other forms of technologies, video games too have had to advance through many generations. This is testimony towards fast growth and development of video games.

  • I merely need to tell you that I am new to having a blog and really admired your article. Likely I am likely to save your blog post . You literally have wonderful article blog posts. Value it for sharing with us all of your domain write-up

  • It really is mostly impossible to find well-qualified women and men on this niche, still you come across as like you comprehend whatever you’re posting on! Thanks

  • If you want to take much from this paragraph then you have to apply these strategies to your won web site.|

  • After checking out a handful of the blog posts on your site, I really appreciate your technique of writing a blog. I added it to my bookmark website list and will be checking back soon. Take a look at my website too and tell me what you think.

  • I am actually grateful to the owner of this web site who has shared this great piece of writing at here.|

  • It’s a shame you don’t have a donate button! I’d definitely donate to this excellent blog! I suppose for now i’ll settle for book-marking and adding your RSS feed to my Google account. I look forward to brand new updates and will talk about this website with my Facebook group. Chat soon!|

  • May I simply say what a relief to find somebody who actually knows what they’re talking about over the internet. You certainly realize how to bring an issue to light and make it important. More and more people must look at this and understand this side of the story. I was surprised that you’re not more popular given that you surely possess the gift.

  • Hello! I could have sworn I’ve visited your blog before but after browsing through some of the articles I realized it’s new to me. Anyways, I’m definitely delighted I discovered it and I’ll be bookmarking it and checking back often.

  • Oh my goodness! Amazing article dude! Thanks, However I am going through problems with your RSS. I don’t understand why I am unable to subscribe to it. Is there anybody else getting the same RSS problems? Anyone who knows the answer can you kindly respond? Thanks!!

  • Hi colleagues, how is the whole thing, and what you would like to say about this post, in my view its truly remarkable in favor of me.|

  • An outstanding share! I’ve just forwarded this onto a co-worker who has been doing a little homework on this. And he actually ordered me breakfast because I found it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanx for spending time to talk about this matter here on your internet site.

  • This is a topic that’s near to my heart… Best wishes! Where are your contact details though?|

  • … [Trackback]

    […] Info to that Topic: stlouisrealestatenews.com/real-estate-market/real-estate-market-general/new-home-sales-in-july-drop-to-all-time-low/ […]

  • Hi there, I enjoy reading through your article post. I wanted to write a little comment to support you.|

  • I simply want to tell you that I am very new to blogging and certainly liked you’re web site. Likely I’m likely to bookmark your website . You absolutely come with incredible article content. Regards for revealing your webpage.

  • Good blog you have got here.. It’s difficult to find quality writing like yours these days. I truly appreciate individuals like you! Take care!!

  • Excellent write-up. I certainly appreciate this website. Stick with it!

  • You’ve made some really good points there. I checked on the web for additional information about the issue and found most people will go along with your views on this site.

  • I used to be able to find good advice from your content.

  • Next time I read a blog, Hopefully it won’t disappoint me as much as this particular one. I mean, I know it was my choice to read through, nonetheless I actually believed you’d have something helpful to say. All I hear is a bunch of complaining about something that you could fix if you weren’t too busy searching for attention.

  • i would love to use hydrogen fuel on my car, this fuel is really nonpolluting but is not yet very available”

  • Good post. I learn something new and challenging on websites I stumbleupon every day. It’s always helpful to read articles from other writers and use something from other web sites.

  • Next time I read a blog, I hope that it does not fail me as much as this particular one. I mean, I know it was my choice to read through, nonetheless I truly thought you’d have something helpful to talk about. All I hear is a bunch of complaining about something that you could fix if you were not too busy looking for attention.

  • I?m amazed, I must state. Really rarely do I encounter a blog that?s both enlightening and also enjoyable, as well as let me tell you, you have hit the nail on the head. Your idea is superior; the concern is something that not enough people are talking smartly about. I am very delighted that I stumbled across this in my search for something connecting to this.

  • It’s difficult to find educated people on this topic, but you seem like you know what you’re talking about! Thanks

  • Your style is unique compared to other people I’ve read stuff from. Many thanks for posting when you’ve got the opportunity, Guess I’ll just book mark this page.

  • After exploring a few of the articles on your web page, I truly appreciate your technique of writing a blog. I bookmarked it to my bookmark website list and will be checking back in the near future. Take a look at my web site too and let me know your opinion.

  • Very good info. Lucky me I found your site by chance (stumbleupon). I’ve book marked it for later.

  • I seriously love your blog.. Very nice colors & theme. Did you build this site yourself? Please reply back as I’m hoping to create my very own website and would like to find out where you got this from or just what the theme is called. Kudos.

  • I am really enjoying the theme/design of your web site. Do you ever run into any internet browser compatibility problems? A handful of my blog audience have complained about my website not operating correctly in Explorer but looks great in Safari. Do you have any ideas to help fix this problem?|

  • Way cool! Some very valid points! I appreciate you writing this post plus the rest of the website is also really good.

  • A motivating discussion is worth comment. I do believe that you should write more about this topic, it may not be a taboo matter but typically people don’t speak about these subjects. To the next! Cheers.

  • I was very pleased to locate this web-site. I intended to many thanks for your time for this terrific read!! I absolutely enjoying every bit of it as well as I have you bookmarked to have a look at new stuff you article.

  • Way cool! Some extremely valid points! I appreciate you writing this post and also the rest of the website is also really good.

  • I?m satisfied, I must state. Really rarely do I run into a blog that?s both educative and enjoyable, as well as let me tell you, you have hit the nail on the head. Your idea is superior; the problem is something that insufficient people are speaking intelligently around. I am really delighted that I stumbled across this in my search for something connecting to this.

  • This site truly has all of the information and facts I wanted concerning this subject and didn’t know who to ask.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>