The report was an important positive, although you could have been forgiven for overlooking that, given the Doomer takeaway of "new home sales plummet 11.4%!!!" They fell by that amount only because.
The number of new homes sold in the region dived 26.3% from March to April, a 13.7% drop from the same month a year earlier. In the Midwest, sales fell 13.1% from March, but were up 19.7% year.
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So much for the jump in the builder’s confidence index reported last week. The Government reported a literal plunge in new home sales in April. Not only did the seasonally manipulated adjusted annualized sales rate drop 11.4% from March, it was 6% below Wall Street’s consensus estimate.
Sales of 164 vs. 187 a year earlier, a decline of 12.3% in 12 months. 7. Irvine 92606: $725,000 median, down 11.4% in a year. Price rank. Median: $500,000 – unchanged in the timeframe. 17. New.
The outlook for new home sales has been more optimistic of late. Through the first three months of 2019, more new homes were sold than in the same period in 2018. Home price growth is finally slowing as builders finally build smaller, more affordable homes and price cuts become more common.
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– New U.S. single-family home sales in March recorded their biggest drop in more than 1-1/2 years, snapping three straight months of hefty gains, in a temporary setback for the housing market.
WASHINGTON – Sales of new U.S. homes plummeted in March, as the spring buying season opened with sharp declines in the Northeast and South. The Commerce Department says new-home sales fell 11.4.
Not only did the seasonally manipulated adjusted annualized sales rate drop 11.4% from March, it was 6% below Wall Street’s consensus estimate. washington (reuters) – Sales of new U.S. single-family homes fell to a near two-year low in September. at a sustainable 3 percent pace for long if new home sales continue to tumble." The Commerce.
Residential investment contracted in the first half of the year and is expected to have declined further in the third quarter.REUTERS | October 25, 2018, 17:30 IST BY: Lucia Mutikani WASHINGTON: Sales.
Tuesday, the U.S. Commerce Department said that new home sales fell 11.4% in April, to a seasonally adjusted annualized rate of 569,000 homes, down from March’s revised rate of 642,000 units. According to consensus forecasts, economists were expecting to see a modest drop to 611,000 units.