Monthly Archives: May 2014

New Home Sales | U.S. New Home Sales Rise, But Momentum Lacking

* New home sales rise 6.4 percent in April* Home inventories rise to 192,000 units* Median price falls 1.3 percent from year-ago* Sales gains fail to mark clear break from slump (Adds details, new analyst comments)By Lucia MutikaniWASHINGTON, May 23 (Reuters) – Sales of new U.S. single-family homes rose in April and the stock of houses on the market hit a 3-1/2 year high, but economists said the    .. more …

Existing Home Sales | Existing Home Sales Show Inventories Are Becoming More Balanced

Restricted supply has been the theme of the U.S. housing market over the past year At the end of April, there were 2.29 million existing homes for sale, representing a 5.9-month supply. This is higher than the 5.2-month supply a year ago. A level of 6 to 6.5 months indicates a balanced market. So, while inventory is building, we’re still at tight levels. As professional investors have become    .. more …

New Home Sales | New Home Sales Rise In April

Sales of new homes in Australia rose for a fourth straight month in April, underscoring a pick-up in the housing sector and a positive sign for broader economic activity, an industry survey showed on Thursday.The Housing Industry Association (HIA) said its survey of large builders showed sales of private sector new homes rose 2.9 percent in April from March. Sales were up 6.0 percent over the    .. more …

New Home Sales | Jump In New Home Sales May Signal Turnaround

FORTUNE — New home sales climbed 6.4% in April from the prior month, growth that exceeded expectations and signaled the first month of the spring selling season may have benefited from pent-up demand after a harsh winter. The Commerce Department said Friday sales of new single-family homes in April were at a seasonally adjusted annual rate of 433,000, 6.4 percent above the revised March rate of    .. more …

New Home Sales | Asia Stocks Rise On US Home Sales, S&P 500 Record

HONG KONG (AP) ” Asian stock markets pushed higher Monday on optimism over the U.S. economy after new home sales rose and a Wall Street benchmark closed at a record level.Markets in Asia were reacting to Friday’s Commerce Department report that new home sales rose 6.4 percent in April after falling in the previous two months. Investors were also heartened after the Standard Poor’s 500 finished    .. more …

New Home Sales | New Home Sales Rebound In April

Sales of new U.S. single-family homes rose more than expected in April and the stock of houses on the market hit a 3-1/2 year-high, a sign the sputtering housing recovery may be poised to regain steam.The Commerce Department said on Friday sales increased 6.4% to a seasonally adjusted annual rate of 433,000 units, ending two straight months of declines.March’s sales pace was revised up to 407,000    .. more …

Existing Home Sales | April Existing-Home Sales Show Modest Improvement Behind Gaining Inventory

WASHINGTON, DC–(Marketwired – May 22, 2014) – Existing-home sales increased for the first time this year in April, while inventory meaningfully increased and home price growth moderated, according to the National Association of Realtors . Monthly sales gains in the West and South offset a modest decline in the Midwest while the Northeast was unchanged.Total existing-home sales 1, which are    .. more …

Mortgage Interest Rates | Housing In U.S. Trembles As Rising Rates Reduce Sales

After a roller-coaster decade of boom-bust-boom, the U.S. housing market is going downhill just when many economists thought annual sales would be heading up. Sales of previously owned properties in March tumbled 7.5 percent from a year earlier to the slowest pace in 20 months, while purchases of new houses sank 14.5 percent from February, according to reports this week. Mortgage applications to    .. more …

New Home Sales | Upcoming New Home Sales And Existing Home Sales Data Will Provide The Overall Housing Picture

We can begin today’s discussion of the pre-market by addressing Home Depot’s ( HD ) earnings release this morning, where the home improvement retailer beat earnings expectations but came in a little light on revenues. Though with analysts already having discounted the poor weather effects from Q1, a beat on the bottom line may be considered a positive, overall. Home Depot stock is down a bit in    .. more …

Existing Home Sales | More Brilliance From San Fran Fed: Existing Home Sales Tumble Blamed On “Rising” Rates

In recent weeks the San Fran Fed has regaled us with such brilliant rhetorical questions: ” How Important Are Hedge Funds In A Crisis ” (after spending an unknown amount of taxpayer funds, it uncovered that the answer is ” Very “), and ” Is It Still Worth Going To College ” (after spending even more taxpayer funds, its conclusion was ” Yes “, even though a subsequent Pew research study showed that    .. more …