Two year low in new home prices and turndown in sales show renewed pressure caused by increased mortgage rates  – by New Deal democrat Once again, this morning’s report on new single family home sales shows that the compete bifurcation of the new vs. existing home markets continues. Unlike existing homeowners, many of whom are shackled […]

New home sales adjusted for cancellations: still signs that a bottoming process might be taking place by NewDeal democrat I had a correspondent question me about whether new home sales might actually be in the process of bottoming, due to the big increase in the percentage of cancellations, as shown below (via Bill McBride): This […]

New home sales increasing trend continues – for now; expect a major pullback in coming months With mortgage rates having risen sharply (as of this morning Mortgage News Daily has the 30-year rate up to 4.19%, the highest in nearly three years), we are at an important moment for the housing market. In that context, […]

New home sales confirm upturn in housing, while FHFA and Case Shiller suggest increase in house prices is slowing This morning we got three reports on housing sales and prices. Let’s start with the sales data. New home sales, while very noisy and heavily revised, tend to lead all of the other housing indicators, even […]

New home sales continue rebound in August, as price increases continue slight deceleration Housing is a long leading sector of the economy, and new home sales, while very noisy and heavily revised, tend to lead all of the other housing indicators. [Note: FRED hasn’t updated its charts with this morning’s information, so graphs below do […]

July new home sales down nearly 30% from peak, as prices perhaps start to plateau Unlike yesterday’s existing home sales, today’s report on new home sales is much more economically significant. The reason I prefer single-family housing permits as a measure is that the sales data is extremely volatile, and heavily revised over the next […]