By Dennis Norman, on February 16th, 2012
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for January 2012 showing an increase in single-family home building permits from the month before of 0.9 percent and a 1.0 percent decrease in new home starts compared to the month before. Continue reading “New home construction activity picking up“
By Dennis Norman, on December 21st, 2011
The last couple of months I have said that, “unless something changes dramatically, 2011 will hit a new record low of new home starts. Well, the actual numbers this year will still most likely be a record low, but at least the rate of new home starts for November has now inched above the record low New home starts in November were up 2.3 percent from the prior month with the seasonally adjusted annual rate inching its way up to 447,000 homes, just slightly above the all-time low of 445,200 new home starts in 2009. Continue reading “New home construction in November inches up; Curent pace slightly ahead of record-low“
By Dennis Norman, on September 26th, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for August 2011 showing a decrease of 2.3 percent from the month before, and an increase of 6.1 percent from a year ago. The seasonally-adjusted new home sales rate for August was 295,000 homes, down from an adjusted rate of 302,000 the month before and is a rate that if we finish 2011 at will make 2011 new home sales the lowest since the Commerce Department began keeping track of sales in 1963. Continue reading “New home sales drops in August and remains on track to finish year at record low“
By Dennis Norman, on September 20th, 2011
Last month I talked about how in 1959 the census bureau first started keeping track of new home construction activity and reported that there were 1.5 million new homes started that year and that, “unless something changes dramatically, 2011 will hit a new record low of new home starts. Well, unfortunately, the report for August paints a pretty bleak picture as well and in fact, shows new home starts are at an even lower rate than last month dropping from a seasonally adjusted annual rate of 423,000 homes the prior month to 417,000 homes in August.
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for August 2011 showing an increase in single-family home building permits from the month before of 2.5 percent and a 1.4 percent decrease in new home starts compared to the month before. Continue reading “New home construction continues at record low pace for the year“
By Dennis Norman, on August 23rd, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for July 2011 showing a decrease of 0.7 percent from the month before, and an increase of 6.8 percent from a year ago. The seasonally-adjusted new home sales rate for July was 298,000 homes, down from an adjusted rate of 300,000 the month before and is a rate that if we finish 2011 at will make 2011 new home sales the lowest since the Commerce Department began keeping track of sales in 1963. Continue reading “New home sales drop again in July; 2011 new home sales continue on track to be worst year ever“
By Dennis Norman, on August 16th, 2011
In 1959 the census bureau first started keeping track of new home construction activity and reported that there were 1.5 million new homes started that year. In 2005 a record high 1.7 million new homes were started and in 2009 a record low 445,100 new homes. In 2010 there was a little improvement as there were 471,200 new homes started and things were looking up a bit, however, unless something changes dramatically, 2011 will hit a new record low of new home starts.
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for July 2011 showing a very slight increase in single-family home building permits from the month before (0.5 percent), and a 1.2 percent decrease in new home starts compared to the year before. Continue reading “New Home Construction On Pace For Record Low in 2011“
By Dennis Norman, on July 26th, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for June 2011 showing a decrease of 1.0 percent from the month before, and an increase of 1.6 percent from a year ago. The seasonally-adjusted new home sales rate for June was 312,000 homes, down from 315,000 the month before and is a rate that if we finish 2011 at will make 2011 new home sales the lowest since the Commerce Department began keeping track of sales in 1963. Continue reading “New home sales drop in June; 2011 new home sales on track to be worst year ever“
By Dennis Norman, on July 19th, 2011
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for June 2011 showing a very slight increase in single-family home building permits from the month before (0.2 percent), and a 9.4 percent increase in new home starts compared to the month before. Continue reading “New home permits and starts increase in May; New home shortage coming?“
By Dennis Norman, on June 23rd, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for May 2011 showing a decrease of 2.1 percent from the month before, and an increase of 13.5 percent from a year ago.
The seasonally-adjusted new home sales rate for May was 319,000 homes, down from 326,000 the month before. The supply of new homes on the market decreased from an adjusted 6.3 month supply the month before to a 6.2 month supply in May. The median new home price increased for the month to $222,600, a 2.6 percent increase from a revised median price of $217,000 the month before and a decrease of 3.4 percent from a year ago. Continue reading “New home sales decline in May; Up over 15 percent from year before“
By Dennis Norman, on June 16th, 2011
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for May 2011 showing a 2.5 percent increase in single-family home building permits from the month before, and a 3.7 percent increase in new home starts compared to the month before. Continue reading “New home construction increases in May; outpacing new home sales by 60 percent“
By Dennis Norman, on May 24th, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for April 2011 showing an increase of 7.3 percent from the month before, and a decrease of 23.1 percent from a year ago.
The seasonally-adjusted new home sales rate for April was 323,000 homes. The supply of new homes on the market decreased from an adjusted 7.2 month supply the month before to a 6.5 month supply in April. The median new home price increased for the month to $217,900, a 1.6 percent increase from a revised median price of $214,500 the month before and an increase of 4.6 percent from a year ago. Continue reading “New home sales and prices increase in April; still down over 23 percent from a year ago“
By Dennis Norman, on May 17th, 2011
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for April 2011 showing a 1.8 percent decrease in single-family home building permits from the month before, and a 5.1 percent decrease in new home starts compared to the month before. Continue reading “New Home Construction Declines in April; No Recovery in Site for Builders“
By Dennis Norman, on April 25th, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for March 2011 showing an increase of 11.1 percent from the month before, and a decrease of 21.9 percent from a year ago.
The seasonally-adjusted new home sales rate for March was 300,000 homes. The supply of new homes on the market decreased from an adjusted 8.2 month supply the month before to a 7.3 month supply in March. The median new home price increased for the month to $213,800, a 2.9 percent increase from a revised median price of $207,700 the month before and a decrease of 4.9 percent from a year ago. Continue reading “New home sales and prices increase in March“
By Dennis Norman, on April 19th, 2011
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for March 2011 showing a 5.7 percent increase in single-family home building permits from the month before, and a 7.7 percent increase in new home starts compared to the month before. This comes on the heels of new home construction sinking to a 25 year low last month. Continue reading “New Home Construction Activity Increases in March“
By Dennis Norman, on March 23rd, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for February 2011 showing a decrease of 16.9 percent from the month before, and a decrease of 28.0 percent from a year ago.
The seasonally-adjusted new home sales rate for February was 250,000 homes. The supply of new homes on the market increased from an adjusted 7.4 month supply the month before to a 8.9 month supply in February. The median new home price decreased for the month to $202,100, a 13.9 percent decrease from a revised median price of $234,800 the month before and a decrease of 8.9 percent from a year ago. Continue reading “New home sales plummet in February, prices fall as well“
By Dennis Norman, on March 16th, 2011
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for February 2011 showing a 9.3 percent decrease in single-family home building permits from January, and a 27.0 percent decrease in new home starts compared to the year before. Continue reading “New home construction sinks to 25 year low“
By Dennis Norman, on February 24th, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for January 2011 showing a decrease of 12.6 percent from the month before, and a decrease of 18.6 percent from a year ago.
The seasonally-adjusted new home sales rate for January was 284,000 homes. The supply of new homes on the market increased from an adjusted 7.0 month supply in December to a 7.9 month supply in January. The median new home price decreased for the month to $230,600 a 1.8 percent decrease from a revised median price of $235,000 the month before and an increase of 5.7 percent from a year ago. Continue reading “New home sales fall in January…down over 18 percent from a year ago“
By Dennis Norman, on February 16th, 2011
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for January 2011 showing a 4.8 percent decrease in single-family home building permits from December, and a 1.0 percent decrease in new home starts compared to the month before. Continue reading “New home construction starts off 2011 with a ‘fizzle’“
By Dennis Norman, on January 26th, 2011
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for December 2010 showing an increase of 17.5 percent from the month before, but a decrease of 7.6 percent from a year ago.
The seasonally-adjusted new home sales rate for December was 329,000 homes, a 17.5 percent increase from November’s revised rate of 280,000 homes. The supply of new homes on the market decreased from an adjusted 8.4 month supply in November to a 6.9 month supply in December. The median new home price increased for the month to $241,500 whopping 12.0 percent increase from $215,500 the month before and an increase of 8.5 percent from a year ago. Continue reading “New home sales close out 2010 on the rise; predicting increased sales in 2011“
By Dennis Norman, on January 18th, 2011
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for December 2010 showing a 5.5 percent increase in single-family home building permits from November, but a 9.0 percent decrease in new home starts compared to the month before. Continue reading “New home starts drop in December; down 14 percent from year before“
By Dennis Norman, on December 23rd, 2010
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for November 2010 showing an increase of 5.50 percent from the month before, but a decrease of 21.2 percent from a year ago.
The seasonally-adjusted new home sales rate for November was 290,000 homes, a 5.5 percent increase from October’s revised rate of 275,000 homes. The supply of new homes on the market decreased from an adjusted 8.8 month supply in October to a 8.2 month supply in November. The median new home price increased for the month to $213,000 from $197,200 the month before and down from $218,800 a year ago. Continue reading “New home sales and prices increase in November“
By Dennis Norman, on December 8th, 2010
According to information released by the Home Builders Association of St. Louis & Eastern Missouri (HBA), building permit activity in the St. Louis area through October of this year, is up over 12 percent from the same time last year. Continue reading “St Louis Area Single Family Building Permits Up over 12 Percent“
By Dennis Norman, on November 26th, 2010
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for October 2010 showing a decrease of 8.1 percent from the month before, but a decrease of 28.5 percent from a year ago.
The seasonally-adjusted new home sales rate for October was 283,000 homes, a 8.1 percent decrease from Septbmer’s rate of 308,000 homes. The supply of new homes on the market increase from an adjusted 7.9 month supply in September to a 8.6 month supply in October. The median new home price decreased for the month to $194,900 from $226,300 the month before and down from $215,100 a year ago. Continue reading “New home sales fall in October; Down 30 percent from year before“
By Dennis Norman, on November 17th, 2010
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for October 2010 showing a slight increase in single-family home building permits and a small decrease in new home starts compared to the month before. Continue reading “October New Home Construction: Permits Up, Starts Down“
By Dennis Norman, on October 27th, 2010
Dennis Norman
Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for September 2010 showing an increase of 6.6 percent from the month before, but a decrease of 21.5 percent from a year ago.
Continue reading “New home sales rate up over six percent in September; down over 20 percent from year before“
By Dennis Norman, on October 19th, 2010
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for September 2010 showing a slight increase in single-family home building permits and an increase in new home starts compared to the month before. Continue reading “New home construction increases slightly in September; Still greatly outpaces sales“
By Dennis Norman, on October 4th, 2010
Dennis Norman
I saw an interesting tidbit that came from the US Census Bureau that shows just how much things have changed in the real estate world in the past 60+ years in the U.S. The piece I saw was from the census bureau’s “Profile America” series and discussed one of the first communities built in our country by a real estate developer back in 1947. The place was the town of Levittown, on New York’s Long Island and aptly named for the developers, William and Alfred Levitt.
Eventually the town contained more than 17,000 Cape Code and ranch style homes that soldiers returning from World War II snapped up…..apparently there was a housing shortage at the time (oh what I wouldn’t give for another housing shortage :). Continue reading “The country’s first home developer“
By Dennis Norman, on September 24th, 2010
Dennis Norman
Last month I reported that July’s new home sales rate of 276,000 homes was the lowest rate on record. Subsequently the Commerce Department revised July and changed the sales rate to 288,000 homes raising July to the second-lowest home sales rate on record. Today, the numbers for August came out and they are no better….the new home sales rate for August is being reported by the Commerce Department as 288,000 homes, the same as July. Continue reading “No Improvement in New Home Sales in August“
By Dennis Norman, on September 21st, 2010
The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for August 2010 showing a decrease in single-family home building permits and an increase in new home starts compared to the month before. Continue reading “New home construction continues to outpace new home sales; look for inventory to grow“
By Dennis Norman, on August 25th, 2010
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.
Continue reading “New Home Sales In July Drop to All-Time Low“
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