Sales of new U.S. single-family homes jumped by over 10 percent over the month in December to a nine-month high, boosted by a shortage of previously owned houses on the market. New home sales rose 11.9 percent to a seasonally adjusted annual rate of 811,000 units last month, the highest level since March, the Commerce…
New Home Sales Surged in December, Fueled by Shortage of Previously Owned Properties
6.46 Million Existing Homes Sold in November, Sales Increase For Third Consecutive Month
Existing-home sales rose for the third straight month in November as buyers were encouraged by a robust job market as well as low-interest mortgage rates that are not expected to last long with the Fed looking to hike rates early spring. The sales for previously-owned homes increased by 1.9 percent last month when compared to…
Fannie Mae Says US Home Sales Rose 7.1 Percent in 2021, but Will Fall Over the Next 2 Years
Fannie Mae’s Economic and Strategic Research Group (ESR Group) announced in a report on Dec. 20 that home sales across the United States are expected to rise to 7.1 percent at the end of 2021, but will decline over the next two years as limited stock, combined with higher mortgage rates and inflation, will cool…
New Home Sales Rise in August, Prices Remain High
New home sales in the United States rose for the second month in a row in August, though increasing demand is showing signs of slowing down because of high prices. A Sept. 24 report from the Census Bureau (pdf) showed that sales of new residential houses increased 1.5 percent to a seasonally adjusted annual rate…
New Home Sales Drop 6.6 Percent, Median House Price Falls 5 Percent In June
Sales of new homes fell for a third straight month in June, dropping by 6.6 percent to the lowest level in more than a year, while the median new house price fell by 5 percent month-over-month, according to a government report. A Commerce Department report (pdf) released Monday showed that new home sales fell to…
Existing US Home Sales up in June; Prices Reach New Heights
Sales of previously occupied U.S. homes rose in June, snapping a four-month losing streak, while strong demand for higher-end properties and ultra-low mortgage rates helped push prices to new highs. Existing homes sales rose 1.4 percent last month from May to a seasonally-adjusted annual rate of 5.86 million units, the National Association of Realtors (NAR)…
Irvine Affordable Housing Development to Offset Hot Housing Market
January 29, 2021
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Affordable HousingCaliforniaHome saleshousing marketirvinelow incomeNY-Calreal estateSouthern CaliforniaUS
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To meet a growing demand for housing in Orange County’s strong market, a new affordable housing development in Irvine is underway. The Irvine Community Land Trust has almost completed its Salerno Apartments, which is scheduled to open in March. Located on the corner of Nightmist and Sand Canyon Avenue, the development will provide 80 units of affordable housing units for renters making no more…
US Factory Activity Near 14-Year High; Home Sales Rise in December
January 24, 2021
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Businesseconomic recoveryEconomieseconomyHome saleshousing marketinflationmanufacturingsupply chainU.S. economyUS
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WASHINGTON—U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead. Other data on Friday showed an unexpected increase in sales of previously owned homes in…
US Factory Activity Near 14-Year High; Home Sales Rose in December
January 24, 2021
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Businesseconomic recoveryEconomieseconomyHome saleshousing marketinflationmanufacturingsupply chainU.S. economyUS
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WASHINGTON—U.S. manufacturing activity surged to its highest level in nearly 14 years in early January, but bottlenecks in the supply chain caused by the COVID-19 pandemic are driving up prices and signaling a rise in inflation in the months ahead. Other data on Jan. 22 showed an unexpected increase in sales of previously owned homes…
US Home Sales Fell More Than Expected in November
WASHINGTON—U.S. home sales fell more than expected in November after five straight months of gains amid a shortage of properties and more expensive houses, but the housing market remains underpinned by record-low mortgage rates. The National Association of Realtors said on Dec. 22 that existing home sales fell 2.5 percent to a seasonally adjusted annual…
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