Pace of new-home sales suggests steady housing strength

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Fewer homes for sales has been a driving force behind rising home prices. As compared to one year ago, the median new home price is up nearly six percent. More demand for buyers is a factor, too. At the current sales pace, the complete U.S. inventory of new homes for sale would "sell out" in 4.8 months.

The weak new home sales pace is at odds with other data that have suggested the housing market recovery is back on track. New house sales data, however, is volatile month-to-month because of a.

Despite some volatility in the month-to-month sales figures, October marks the sixth month in 2017 at an annual sales pace of more than 600,000. New home sales through October are running 8.9% higher than this time in 2016, in line with NAHB’s forecast.

People on the move: Oct. 6

Following a substantial gain in July, the pace of new-home sales held virtually unchanged at a seasonally adjusted annual rate of 373,000 units in August, according to newly released figures from HUD and the U.S. Census Bureau.

It’s a statistic that suggests housing market weakness. However, in looking at a different component of the New Home Sales report – the supply of homes for sale – we’re forced to reconsider. At the current pace of sales, every new home for sale nationwide would be "sold" in a matter of 6.1 months.

It’s a statistic that suggests housing market weakness. However, in looking at a different component of the New Home Sales report – the supply of homes for sale – we’re forced to reconsider. At the current pace of sales, every new home for sale nationwide would be "sold" in a matter of 6.1 months.

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May New home sales: slowly But Steadily, New Home Sales Climb Higher. New home sales rose to an annual rate of 689,000 units in May from April’s revised sales rate of 646,000 units. Months supply of inventory stands at 5.2 months; the median new home sale price fell by 3.3 percent on a year-over-year basis.

Total housing inventory slipped 0.5% at the end of July to 1.92 million existing homes available for sale and is unchanged from last year’s total. Unsold inventory rests at a 4.3-month supply at the.