Just a few Feedback on March New Residence Gross sales

by Calculated Danger on 4/23/2021 10:40:00 AM New dwelling gross sales for March have been reported at 1,021,000 on a seasonally adjusted annual charge foundation (SAAR). Gross sales for the earlier three months have been revised up considerably. This was effectively above consensus expectations for March and the very best gross sales charge since 2006.


by Calculated Danger on 4/23/2021 10:40:00 AM

New dwelling gross sales for March have been reported at 1,021,000 on a seasonally adjusted annual charge foundation (SAAR). Gross sales for the earlier three months have been revised up considerably.

This was effectively above consensus expectations for March and the very best gross sales charge since 2006.

Clearly low mortgages charges, low current dwelling provide, and favorable demographics have boosted gross sales.  A surging inventory market has in all probability helped new dwelling gross sales too.


Earlier: New Residence Gross sales Enhance to 1,021,000 Annual Fee in March; Highest Since 2006.

Click on on graph for bigger picture.

This graph reveals new dwelling gross sales for 2020 and 2021 by month (Seasonally Adjusted Annual Fee).

The year-over-year comparisons are straightforward within the first half of 2021 – particularly in March and April.

Nonetheless, gross sales will possible be down year-over-year in August via October – because the promoting season was delayed in 2020.

And on stock: word that accomplished stock (third graph in earlier submit) is at document lows, however stock below development is nearer to regular.

New Home Sales, Months by Stage of ConstructionThis graph reveals the months of provide by stage of development.

The stock of accomplished properties on the market was at 37 thousand in March tying the document low of 37 thousand in 2013 (when gross sales have been a lot decrease).  That’s about 0.4 months of accomplished provide (document low).

The stock of recent properties below development, and never began, is about 3.2 months – on the low finish of regular.



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