Housing Starts During January 2025

The U.S. Commerce Department this morning released its Housing Starts report for January 2025:

---------------------------------------------------

Housing Starts:
Predicted: 1,400,000

• Actual: 1,366,000

Month-on-Month Change: -9.83% (-149,000 New Units)

• Year-on-Year Change: -0.73% (-10,000 New Units)

---------------------------------------------------

Building Permits:
Predicted: 1,400,000

• Actual: 1,483,000

Month-on-Month Change: +0.067% (+1,000 New Permits)

• Year-on-Year Change: -1.7%  (-379,000 New Permits)

----------------------------------------------------

Housing Starts: The top, yellow-highlighted figure is a measure of initial construction of single and multi-family residential units in the United States for the indicated month. Seasonally adjusted annual rate. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

If you're wondering about the demand for new homes in the United States, or about the American residential construction industry in general, then you should pay attention to the monthly Housing Starts report. This report also offers insight into specific types of consumer spending: when housing starts are up, demand for the stuff that a consumer would purchase for a new home (large appliances, consumer electronics, furniture, etc.) tends to also rise -- and vice versa.

=================

CHART: Housing Starts
+ Building Permits
+ Completions
JANUARY 2025 UPDATE

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• Click here to view the full Commerce Department report (PDF)

=================

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Existing Home Sales During November 2024

Existing Home Sales report for November 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 3,960,000

• Actual: 4,150,000

======================

•  Change from Previous Month: +4.8% (+190,000 homes)
  
  
•  Change from A Year Ago: +6.14% (+240,000 homes)

==========

Inventory: 1,330,000 (3.8 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $406,100
  
  
• Price Change from A Year Ago: +4.72% (+$18,300)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...'Home sales momentum is building,' said NAR Chief Economist Lawrence Yun. 'More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%.'

'Existing homeowners are capitalizing on the collective $15 trillion rise in housing equity over the past four years to look for homes better suited to their changing life circumstances,' Yun added...."

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INFOGRAPHIC: Existing Home Sales
NOVEMBER 2024 UPDATE

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==================

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Existing Home Sales During October 2024

Existing Home Sales report for October 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 3,830,000

• Actual: 3,960,000

======================

•  Change from Previous Month: +3.4% (+130,000 homes)
  
  
•  Change from A Year Ago: +2.9% (+110,000 homes)

==========

Inventory: 1,370,000 (4.2 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $407,200
  
  
• Price Change from A Year Ago: +4.00% (+$15,600)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...'The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,' said NAR Chief Economist Lawrence Yun. 'Additional job gains and continued economic growth appear assured, resulting in growing housing demand. However, for most first-time homebuyers, mortgage financing is critically important. While mortgage rates remain elevated, they are expected to stabilize.'

'The ongoing price gains mean increasing wealth for homeowners nationwide,' Yun added. 'Additional inventory and more home building activity will help price increases moderate next year'..."

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INFOGRAPHIC: Existing Home Sales
OCTOBER 2024 UPDATE

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• Click here to view the NAR data.

==================

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Existing Home Sales During September 2024

Existing Home Sales report for September 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 3,880,000

• Actual: 3,840,000

======================

•  Change from Previous Month: -1.03% (-40,000 homes)
  
  
•  Change from A Year Ago: -3.52% (-140,000 homes)

==========

Inventory: 1,390,000 (4.3 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $404,500
  
  
• Price Change from A Year Ago: +3.00% (+$11,800)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...'Home sales have been essentially stuck at around a four-million-unit pace for the past 12 months, but factors usually associated with higher home sales are developing,' said NAR Chief Economist Lawrence Yun. 'There are more inventory choices for consumers, lower mortgage rates  than a year ago and continued job additions to the economy. Perhaps, some consumers are hesitating about moving forward with a major expenditure like purchasing a home before the upcoming election.'

'More inventory is certainly good news for home buyers as it gives consumers more properties to view before making a decision,” Yun said. 'However, the inventory of distressed properties is minimal because the mortgage delinquency rate remains very low. Distressed property sales accounted for only 2% of all transactions in September.'..."

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CHART: Cost of A Used Home
September 2024 UPDATE

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• Click here to view the NAR data.

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New Home Sales During August, 2024

The August, 2024 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 751,000

• Actual New Home Sales: 716,000

------------------------------------------------------

• Change from 1 Month Previous: -35,000 units (-4.66%)
  
  
• Change from 1 Year Previous: +64,000 units (+9.82%)

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Median Price for a New Home
During August, 2024: $420,600
 

***************************

Average Price for a New Home
During August, 2024: $492,700

------------------------------------------------------

Inventory: 467,000 (7.8 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales
AUGUST, 2024 Update

================================

• Click Here for Historical Prices and a Price Chart.
  
  
• Click Here for Existing Home Sales Prices and a Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During August 2024

Existing Home Sales report for August 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 3,960,000

• Actual: 3,860,000

======================

•  Change from Previous Month: -2.53% (-100,000 homes)
  
  
•  Change from A Year Ago: -4.22% (-170,000 homes)

==========

Inventory: 1,350,000 (4.2 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $416,700
  
  
• Price Change from A Year Ago: +3.09% (+$12,500)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...'Home sales were disappointing again in August, but the recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,' said NAR Chief Economist Lawrence Yun. 'The home-buying process, from the initial search to getting the house keys, typically takes several months.'

'The rise in inventory -- and, more technically, the accompanying months’ supply -- implies home buyers are in a much-improved position to find the right home and at more favorable prices,' Yun added. 'However, in areas where supply remains limited, like many markets in the Northeast, sellers still appear to hold the upper hand.'..."

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INFOGRAPHIC: Existing Home Sales
AUGUST 2024 UPDATE

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• Click here to view the NAR data.

==================

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New Home Sales During July, 2024

The July, 2024 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 668,000

• Actual New Home Sales: 739,000

------------------------------------------------------

• Change from 1 Month Previous: +71,000 units (+10.63%)
  
  
• Change from 1 Year Previous: +39,000 units (+5.57%)

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Median Price for a New Home
During July, 2024: $429,800
 

***************************

Average Price for a New Home
During July, 2024: $514,800

------------------------------------------------------

Inventory: 462,000 (7.5 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales
JULY, 2024 Update

================================

• Click Here for Historical Prices and a Price Chart.
  
  
• Click Here for Existing Home Sales Prices and a Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================ 

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Existing Home Sales During July 2024

Existing Home Sales report for July 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 3,900,000

• Actual: 3,950,000

======================

•  Change from Previous Month: +1.28% (+50,000 homes)
  
  
•  Change from A Year Ago: -2.47% (-100,000 homes)

==========

Inventory: 1,330,000 (4.0 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $422,600
  
  
• Price Change from A Year Ago: +4.19% (+$17,000)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"..."Despite the modest gain, home sales are still sluggish," said NAR Chief Economist Lawrence Yun. "But consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."..."

==================

INFOGRAPHIC: Existing Home Sales
JULY UPDATE

==================

• Click here to view the NAR data.

==================

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New Home Sales During June, 2024

The June, 2024 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 621,000

• Actual New Home Sales: 617,000

------------------------------------------------------

• Change from 1 Month Previous: -4,000 units (-0.644%)
  
  
• Change from 1 Year Previous: -49,000 units (-7.36%)

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Median Price for a New Home
During June, 2024: $417,300
 

***************************

Average Price for a New Home
During June, 2024: $487,200

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Inventory: 480,000 (9.1 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales
June, 2024 Update

================================

• Click Here for Historical Prices and a Price Chart.
  
  
• Click Here for Existing Home Sales Prices and a Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================ 

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Existing Home Sales During June 2024

Existing Home Sales report for June 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 4,110,000

• Actual: 3,890,000

======================

•  Change from Previous Month: -5.35% (-220,000 homes)
  
  
•  Change from A Year Ago: -5.35% (-220,000 homes)

==========

Inventory: 1,320,000 (4.1 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $426,900
  
  
• Price Change from A Year Ago: +4.097% (+$16,800)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.
  
  
• Click here for New Home Sales Data.

==========

From Today's Report:

"...Existing-home sales fell in June as the median sales price climbed to the highest price ever recorded for the second consecutive month, according to the National Association of REALTORS®. All four major U.S. regions posted sales declines. Year-over-year, sales waned in the Northeast, Midwest and South but were unchanged in the West.

'We're seeing a slow shift from a seller's market to a buyer's market,' said NAR Chief Economist Lawrence Yun. 'Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.'

Total housing inventory registered at the end of June was 1.32 million units, up 3.1% from May and 23.4% from one year ago (1.07 million). Unsold inventory sits at a 4.1-month supply at the current sales pace, up from 3.7 months in May and 3.1 months in June 2023. The last time unsold inventory posted a four-month supply was May 2020 (4.5 months.)

The median existing-home price for all housing types in June was $426,900, an all-time high and an increase of 4.1% from one year ago ($410,100). All four U.S. regions registered price gains.

'Even as the median home price reached a new record high, further large accelerations are unlikely,' Yun added. 'Supply and demand dynamics are nearing a balanced market condition. The months supply of inventory reached its highest level in more than four years.'..."

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INFOGRAPHIC: Existing Home Sales
JUNE UPDATE

==================

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==================

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New Home Sales During April, 2024

The April, 2024 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 665,000

• Actual New Home Sales: 634,000

------------------------------------------------------

• Change from 1 Month Previous: -31,000 units (-4.66%)
  
  
• Change from 1 Year Previous: -53,000 units (-7.71%)

------------------------------------------------------

Median Price for a New Home
During April, 2024: $433,500
 

***************************

Average Price for a New Home
During April, 2024: $505,700

------------------------------------------------------

Inventory: 480,000 (9.1 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales
April, 2024 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During April 2024

Existing Home Sales report for April 2024 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 4,220,000

• Actual: 4,140,000

======================

•  Change from Previous Month: -1.9% (-80,000 homes)
  
  
•  Change from A Year Ago: -1.9% (-80,000 homes)

==========

Inventory: 1,210,000 (3.5 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $407,600
  
  
• Price Change from A Year Ago: +5.65% (+$21,800)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.

==========

From Today's Report:

"...According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.02% as of May 16. That's down from 7.09% the previous week but up from 6.39% one year ago..."

==================

 

INFOGRAPHIC: Existing Home Sales
APRIL 2024 UPDATE

==================

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==================

 

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New Home Sales During January, 2024

The January, 2024 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 651,000

• Actual New Home Sales: 661,000

------------------------------------------------------

• Change from 1 Month Previous: +10,000 units (+1.54%)
  
  
• Change from 1 Year Previous: +12,000 units (+1.85%)

------------------------------------------------------

Median Price for a New Home
During January, 2024: $420,700
 

***************************

Average Price for a New Home
During January, 2024: $534,300

------------------------------------------------------

Inventory: 456,000 (8.3 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales
January, 2024 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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New Home Sales During September 2023

The September 2023 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 676,000

• Actual New Home Sales: 759,000

------------------------------------------------------

• Change from 1 Month Previous: +83,000 units (+12.28%)
  
  
• Change from 1 Year Previous: +192,000 units (+33.86%)

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Median Price for a New Home
During September 2023: $418,800 
 

***************************

Average Price for a New Home
During September 2023: $503,900

------------------------------------------------------

Inventory: 435,000 (6.9 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales
September 2023 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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New Home Sales During July 2023

The July 2023 New Home Sales report was released by the Commerce Department this morning:

------------------------------------------------------

Previous Month (revised): 684,000

• Actual New Home Sales: 714,000

------------------------------------------------------

• Change from 1 Month Previous: +30,000 units (+4.39%)
  
  
• Change from 1 Year Previous: +171,000 units (+31.49%)

------------------------------------------------------

Median Price for a New Home
During July 2023: $436,700 
 

***************************

Average Price for a New Home
During July 2023: $513,000

------------------------------------------------------

Inventory: 437,000 (7.3 months supply at current sales rate; seasonally‐adjusted estimate.)

------------------------------------------------------

================================

CHART: New Home Sales
July 2023 Update

================================

• Click Here for Historical Prices and a Price Chart.

================================

Compiled jointly by the U.S. Commerce Department and the U.S. Department of Housing and Urban Development, the yellow-highlighted figure above is the seasonally adjusted and annualized number of newly-built homes with committed buyers for the indicated month.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The New Home Sales report is watched by economists and investors because it offers insight into the state of the U.S. housing market, and also provides data that can be used to predict sales of large household furniture and appliances like refrigerators, air conditioners, microwave ovens, etc.


================================

• Click here to view the full Commerce Department report (PDF)
  
  

================================

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Existing Home Sales During July 2023

The Existing Home Sales report for July 2023 was released by The National Association of Realtors® (NAR®) this morning:

======================

Previous Month: 4,160,000

• Actual: 4,070,000

======================

•  Change from Previous Month: -2.16% (-9,000 homes)
  
  
•  Change from A Year Ago: -16.6% (-81,000 homes)

==========

Inventory: 1,110,000 (3.3 months supply.)

==========

The yellow-highlighted, "actual" figure above represents the preliminary, seasonally adjusted annualized sales count of existing homes, co-ops and condominiums for the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

------------------------------------------------------

• Median Price: $406,700
  
  
• Price Change from A Year Ago: +1.93% (+$7,000)

------------------------------------------------------ 

==========

• Click here for historical prices and a chart.

==========

From Today's Report:

"...'Two factors are driving current sales activity – inventory availability and mortgage rates,' said NAR Chief Economist Lawrence Yun. 'Unfortunately, both have been unfavorable to buyers.'

'Most homeowners continue to enjoy large wealth gains from recent years with little concern about home price declines,' Yun said. 'However, many renters are concerned as they’re facing growing affordability challenges because of high interest rates.'

According to Freddie Mac, the 30-year fixed-rate mortgage averaged 7.09% as of August 17. That’s up from 6.96% the prior week and 5.13% one year ago..."

==================

• Click here to view the NAR data.

==================

INFOGRAPHIC: Existing Home Sales
July 2023 UPDATE

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