Published Date 1/30/2024
. Housing starts. It's one of those terms that translates into “the straw that stirs the soup,” so to speak. And rarely over the past decade or so has the soup been stirred so strategically than it was in 2023, according to HousingWire, which reports that it pretty much helped save the country from recession. “Sales of new single-family homes surprised in December, exceeding consensus expectations of 649,000,” the latest report tells us. “New home sales reached a seasonally adjusted annual rate of 664,000, according to data published on Thursday by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). This strong finish to 2023 is 8% above the revised November rate of 615,000 and 4.4% above the December 2022 estimate of 636,000.” As mortgage interest rates went down, builder confidence improved. That means at the current building pace, there is an 8.2 months’ supply of new single-family homes, exceeding last year’s pace. “The current inventory remained elevated in December at a level of 453,000, up 0.4% compared to December 2022.” The National Association of Homebuilders (NAHB)’s vice president Danushka Nanayakkara-Skillington says, “New home sales ended the year on a high note thanks largely to falling interest rates and a decline in existing home sales. And while moderating interest rates are a promising sign for new home sales in the year ahead, long-term issues such as a shortage of buildable lots, a lack of skilled labor and excessive regulations will continue to pose challenges for builders.” Prices? It’s all relative. While the median sale price for a new home decreased 3% compared to November compared with one year ago, prices for new homes remain significantly higher compared with pre-pandemic new-home prices. Reach out for more! HousingWire, TBWSAll information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
Bank statement for Self Employed are our Specialty! JUMBO LOANS at Amazing rates!
NMLS: 914312
Jackie Barikhan - Summit Lending
17011 Beach Boulevard Suite 1100, Huntington Beach, CA CA 92647
Company NMLS: 914312
Office: 949-855-0760
Cell: 949-600-0944
Email: jackie@mylenderjackie.com
NMLS: 914312
Cell: 949-600-0944
9/20/2024
All that money for your dream home just left your account. Soon you’ll hear the ... view more
9/20/2024
No significant news this morning, markets still digesting what the Fed means usi... view more
9/19/2024
Initial Weekly Jobless Claims were lower (better) than expected, 219K versus est... view more
9/18/2024
Move over, garden hose – there's a new hero in town...... view more
9/16/2024
As the real estate market continues to challenge buyers with high prices and hef... view more
9/16/2024
These are the three areas that have the greatest ability to impact rates this we... view more
9/13/2024
When Bugs Bunny once said, “Of course you know: This means war,” it’s doubtful h... view more
9/13/2024
Yesterday another day with little movement, overnight the 10 year note traded do... view more