We are forecasting a weak start to 2023 for the housing market. Driven by a recession in the first half of the year and a continuation of the trends outlined above, we expect a 13% drop in existing home sales and a 4% decrease in new home sales for 2023, following 16% decreases in both segments in 2022.
Tag: New Home Sales
November New Home Sales Up 5.8%
New home sales beat expectations in November, HUD and the Census Bureau reported over the holiday season, rising by nearly 6 percent from October.
October New Home Sales Beat Expectations
October new home sales rose by 7.5 percent from September, beating consensus expectations, the Census Bureau and HUD reported Wednesday.
September New Home Sales Down 11%
New home sales fell by nearly 11 percent in September, HUD and the Census Bureau reported Wednesday, as rising interest rates discouraged home buyers.
July New Home Sales at 6-1/2 Year Low; Price Growth Decelerates
New home sales fell to their slowest pace in six and a half years, while inventories stockpiled, HUD and the Census Bureau reported Tuesday. In a separate report, RE/MAX, Denver, said median home sales prices fell for the first time since January
May New Home Sales Jump 11%
May new home sales proved to be a solitary bright spot in a month of otherwise disappointing housing reports, rising by nearly 11 percent from April, HUD and the Census Bureau reported Friday.
April New Home Sales Fall to 2-Year Low
New home sales in April suffered double-digit percentage losses for the second consecutive month, falling to their lowest level since June 2020, HUD and the Census Bureau reported Tuesday.
March New Home Sales Stumble
New home sales took a tumble in March, HUD and the Census Bureau reported Tuesday, hamstrung by the usual suspects: rising interest rates; inadequate inventories and rapidly increasing home prices.
Supply Chain Restraints Hamstring February New Home Sales
February new home sales fell by 2 percent from January as home builders continued to face supply chain bottlenecks, HUD and the Census Bureau reported Wednesday.
January New Home Sales Down 4.5%
January new home sales fell by 4.5% amid supply chain and inventory shortages, HUD and the Census Bureau reported Thursday.