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Posts Tagged ‘New Home Sales’

Bloomberg Surveillance TV – Guest Host 6-25-14

June 25, 2014 | 8:30 am | bloomberglogo | Videos |


UPDATE: above clip just added – expanded conversation.

Got to guest host an hour (6am to 7am) of Bloomberg Television’s Surveillance with Tom Keene, Scarlett Fu and Adam Johnson to talk housing. The above is just a couple of minutes of the hour (yes, you’re spared). We spoke about Case Shiller, New Home Sales, biting in World Cup Soccer, my fireman son using a GoPro in fires and LeBron/Carmelo’s real worth among other things. Like I said, we did talk housing.

Adam brought up a great point – while the economy is always characterized as 70% consumer driven, 16% of that is actually health care spending so the overall number is really 54%.

Very smart conversations (the topic of biting included). Always fun to join them.

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[WSJ] Good Overview on 2014 US Housing Expectations – Jed Kolko, Trulia

February 26, 2014 | 12:32 pm | trulialogo |

Jed Kolko does a nice job summarizing what the general housing market may look like in 2014 after the new home sales report came out today.

My big takeaway was that any housing market improvement will be more affected by local job and income growth rather than the “rebound effect.” This phenomena occurred in markets that were hit hardest by the downturn, yet saw the largest price increases.

I’ve added “rebound effect” to my 2014 phrase list, right after “polar vortex.”

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[New Home Sales] Up 9.6% – New Is Better Too?

August 27, 2009 | 1:40 pm | nytlogo |

Here’s the meat from the commerce department’s July new residential sales report released yesterday.

Sales of new one-family houses in July 2009 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent (±13.4%)* above the revised June rate of 395,000, but is 13.4 percent (±12.9%) below the July 2008 estimate of 500,000. The median sales price of new houses sold in July 2009 was $210,100; the average sales price was $269,200. The seasonally adjusted estimate of new houses for sale at the end of July was 271,000. This represents a supply of 7.5 months at the current sales rate.

Inventory has fallen to 7.5 months from 12.4 months earlier this year because builders simply aren’t building. The general thinking is that the tax credit and low rates have helped move properties more than they would have otherwise. However, distressed property sales are now competing with new construction and credit remains tight.

The number of new properties available for sale is the lowest it has been since 1993.

Sales picked up in three out of the nation’s four geographic areas, with a sizeable gain of 16.2 percent in the South, the nation’s largest-selling region, which includes the Washington area. Sales fell only in the Midwest, by 7.6 percent.


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