June New Home Sales: Inventory Is Up. Kinda.
June new home sales edged higher, rising 0.8 percent from May to 610,000 units at a seasonally adjusted annual rate (SAAR), according to the U.S. Census Bureau. Sales for the previous three months were revised downward by a combined 27,000 units.
Rapid Reaction: June New Home Sales
June new home sales rose 0.8 percent from May and 9.1 percent from a year ago, to 610,000 (SAAR), according to the U.S. Census Bureau.
June Case-Shiller Forecast: Rare Monthly Declines Expected
We predict the slowdown of growth in Case-Shiller's three home-price indices to continue into June.
May Case-Shiller Results: Slowing, But Still Growing
At this point in the recovery, the main story in housing is less about rising home prices and more about the falling, woefully insufficient inventory of homes for sale.
June Existing Home Sales: Low Inventory Pushes Sales Down, Prices Up
June existing home sales fell in line with expectations, declining 1.8 percent from May to 5.52 million units at a seasonally adjusted annual rate (SAAR), according to the National Association of Realtors (NAR).
Rapid Reaction: June Existing Home Sales
June existing home sales slipped 1.8 percent from May, to 5.52 million (SAAR) according to the NAtional Association of Realtors, the lowest level since February and just 0.7 percent above the pace from a year ago.
June Home Sales Forecast: Home Sales Expected to Slow Across the Board in June
A recent trend of weakening home sales – both new and existing – likely continued in June, according to Zillow’s June home sales forecast, reflecting the increasingly heavy weight of limited inventory and soft new construction activity.
As the U.S. Dollar Strengthens, How Do Foreign Buyers Respond?
As the U.S. dollar has strengthened over the past few years, foreign buyers of U.S. homes have responded to the squeeze in different ways. Buyers from some countries have adjusted their sights lower and responded by shopping for less expensive homes, while others have likely dropped out of the market altogether allowing their better-heeled countrymen to seek more expensive places. And still others seemingly haven’t adjusted their behavior at all.
Inventory Is Down, But Listings Aren’t (June 2017 Market Report)
Inventory is tight and home values are rising, and it’s easy to assume that the main culprit for shrinking inventory is a shrinking number of homes being listed for sale. Easy, but wrong.
Typical millennial and Gen X homeowners with a mortgage have roughly similar levels of equity in their homes, even though Gen X homeowners are older and have had a longer window to own a home and build equity in it.
