Category: Housing

Housing improved overall in March. Purchases of new, single-family homes increased by 5.8% to an annual rate of 621,000 units. Compared to last year at this time, purchases are up 15.6%. The median sale price for a new home rose 1.2% in March to $315,000. Existing home prices increased 5.6% according to the National Association of Realtors. Inventory is down to 3.8 months. A “normal” market generally has 6.0 months available. New home construction rate is now at 1.2 million units annually. Overall, housing is continuing a favorable long-term direction and in line with our expectations.

Housing improved overall in March. Purchases of new, single-family homes increased by 5.8% to an annual rate of 621,000 units. Compared to last year at this time, purchase are 15.6%.
The median sale price for a new home rose 1.2% in March to $315,000.

Housing starts declined in March on a seasonally adjusted basis by 6.8%. This is not as dramatic as appears on the surface given that February was a record high since October 2007. On an annual basis, starts are up 8.7%.

Median New and Existing Housing Prices Added, Prices Increase 5.7% Year-Over-Year

USA Housing Increases 6.1% in February YOY, Median Price Down 4.9% YOY to $296,200