Sales of newly built, single-family homes rose 5.7 percent to a seasonally adjusted annual rate of 389,000 units in September, according to newly released figures from HUD and the U.S. Census Bureau. This is the fastest sales pace recorded since April of 2010.
“Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today’s data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation,” says Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new-home purchase, assuming they can qualify for a good mortgage under today’s exceedingly stringent guidelines.”
Updates from October, 2012
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By: Gulf Coast Business Review
Thursday, July 19, 2012
There were 556 single-family homes started in the area in the second quarter, an increase of 30.2% compared with the same quarter of 2011, real estate research firm Metrostudy reports.
In addition, housing starts in the area for the year to date rose to 2,087, an increase of 13.1% over the same time last year.
Finished vacant inventory decreased to 290 units in the second quarter from 426 units in the same quarter of 2011, a drop of 31.9%. This inventory represents a supply of 1.7 months, down from 2.4 months in the same time last year, Metrostudy reports.
“The reduced finished vacant inventory is typically a first sign of future housing start increases and dynamics which could include rising prices for the new-home sector,” Metrostudy’s Tony Polito says in a release. Print This Post
Builder confidence in the market for newly built, single-family homes gained five points in May from a downwardly revised reading in the previous month to reach a level of 29 on the National Association of Home Builders/Wells Fargo (More …) Print This Post
RISMEDIA, January 18, 2011—Housing will see gradual improvements in activity this year as the nation’s economy and job market continue to move to higher ground, establishing momentum that will produce more considerable gains in 2012, according to economists who appeared at the NAHB International Builders’ Show in Orlando on January 12.
“This year’s spring selling season will be better than last year’s,” said NAHB Chief Economist David Crowe, with job growth providing a stronger stimulus in the housing market than last year’s tax credits for home buyers. (More …) Print This Post
RISMEDIA, July 28, 2010—Coming off an historic low in May, sales of newly built, single-family homes rose 23.6% to a seasonally adjusted annual rate of 330,000 units in June 2010, according to U.S. Commerce Department data. (More …)