Market Share of All-Cash New Home Sales Hits 32-Year High
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that cash purchases made 11.2% of new home sales in the fourth quarter of 2022—the...
View ArticleNew Home Sales Up in January but Higher Rates Signal Further Weakness
Declining mortgage rates and home prices in January, coupled with home builders use of sales incentives, helped boost new home sales last month. The U.S. Department of Housing and Urban Development and...
View ArticleNew Home Sales Remain Relatively Flat in February
Higher mortgage rates and home prices, as well as increased construction costs contributed to lackluster new home sales in February, but signs point to improvement later in the year. Sales of newly...
View ArticleMarch New Home Sales Jump on Lower Rates and Tight Existing Home Supply
Lower mortgage rates and limited existing inventory helped to push new home sales up in March, even as builders continue to grapple with increased construction costs and material supply disruptions....
View ArticleShare of FHA-Backed New Home Sales Climbs in Q1 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report published by the U.S. Census Bureau reveals that the share of new home sales backed by FHA loans jumped from 8.4% to 11.7%...
View ArticlePace of Sales Cool in June
Rising mortgage rates and elevated construction costs put a damper on new home sales last month. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly...
View ArticleNew Home Sales Increasingly Backed by FHA Loans
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to 14.0% in the second quarter...
View ArticleNew Home Sales Increase in July
Low existing inventory and solid demand more than offset rising mortgage rates and elevated construction costs to boost new home sales last month. Sales of newly built, single-family homes in July...
View ArticleLack of Resales Boost New Home Sales in September
Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market. The U.S. Department of Housing...
View ArticleNew Home Sales Weaken in October
Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October. Sales of newly built,...
View ArticleNew Home Sales Down in November but Should Improve Moving Forward
Elevated mortgage rates acted as a drag on new home sales in November, but with the economy now apparently past peak interest rates for this cycle, sales are expected to rise as we move into the new...
View ArticleNew Home Sales Bounce Back in December on Lower Mortgage Rates
Falling interest rates in the closing weeks of 2023 helped to bring buyers off the sidelines and provide a boost for new home sales. Sales of newly built, single-family homes in December increased 8.0%...
View ArticleAll-Cash Share of New Home Sales Remains Elevated in 2023
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the all-cash purchases accounted for 8.4% of new home sales in 2023—a 1.3 percentage point decline over the...
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