The homebuying boom of 2020 appears to have lost some steam in November. Sales of newly built homes fell sharply in November to a seasonally adjusted annual rate of 841,000, according to data released by the Census Bureau Wednesday. That
The surge in home buying has run into a dearth of supply as buyers swamp sellers and snap up homes at record pace.
Surging demand for houses has triggered a home building boom.
U.S. construction spending jumped by more than expected in October, driven higher by demand for single family homes.
Home prices are up 16 percent across the country as the supply of homes for sale dwindles and prices soar.
New single-family houses sold in October at a seasonally adjusted annual rate of 999,000.
U.S. home sales increased for a fifth straight month in October, far exceeding expectations and hitting the fastest pace of sales in 14 years.
Single family home building continues to boom.
For rental car companies, the weeks leading up to Halloween are typically a quieter time; the summer driving season has faded and holiday rentals are weeks away.
Compared with a year ago, single-family home construction spending is up 8.2 percent.
An unexpectedly month-over-month decline for new home sales.
Sales of existing homes jumped 9.4 percent in September to an annualized rate of 6.54 million, the fourth consecutive monthly gain.
Grammy-winning rapper and actor 50 Cent doubled down on Tuesday after ripping Joe Biden’s “very bad” tax plan, telling his 12 million Twitter followers he does not want to become “20 Cent.”
American homebuilders are scrambling to build suburban homes to keep up with a rush out of big cities.
50 Cent, the Grammy-winning rapper, actor, and notorious social media troll, has appeared to endorse the reelection of President Donald Trump. In a message to his 26 million Instagram followers, the New York native blasted Joe Biden’s proposed tax plan that would see New York City taxpayers earning more than $400,000 paying a combined state and local income tax rate of more than 60 percent.
Homebuilder confidence set a record high for the third consecutive month.
A huge surge of demand for used cars is being fueled by the changes wrought to American life by the pandemic.
Spending on single family homes jumped 5.5 percent in August while spending on aparment buildings and office buildings fell.
Signings of contracts to purchase homes are up by more than 24% compared with a year ago.
Sales of newly built homes surged to their highest level since 2006 in August. The Census Bureau reported Thursday that sales of new single-family homes hit a seasonally adjusted, annualized rate of 1.011 million. This was well above expectations for
Home prices are soaring as demand outpaces supply.
Homebuilders started construction on new homes at a seasonally adjusted annualized rate of 1.021 million, 12.1 percent higher than a year ago and up 4.1 percent from the prior month. Single family home construction rose in the West and Midwest
The great rush for homes is making this the best market ever for builders.
Broad gains in prices suggest the economy is still healing.
Demand for homes outside of major city centers has exploded higher this summer.
Homebuilder confidence hit the record high set in 1998.
“The changing needs of our homes has served as a catalyst for the pent up inherent demand in peoples’ desire to move,” Zillow’s CEO said.
Home prices are up 4.9 percent compared with a year ago. In June, they rose a full one-percent as buyers rushed to escape the confines of the places where they spent the coronavirus lockdown.
Americans are in a stampede to buy houses to shelter from disease, crime, shuttered schools, and other urban dangers.
Existing-home sales grew at a record pace in June, a huge rebound after three straight months of sales declines caused by the ongoing pandemic.
More evidence of the flight to the suburbs after lockdowns, riots, defund the police protests, school closings, and surging crime
Americans are seeking homes outside of the cities in the aftermath of riots, looting, police defunding campaigns, resurgent crime, and months-long lockdowns
A huge boost in home sales in May indicates an economy recovering faster than expected.
Economists expected a sharp decline in sales of new homes for April. Instead, sales actually rose from March.
