{"id":4672,"date":"2017-05-24T00:00:00","date_gmt":"2017-05-24T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-face-a-setback\/"},"modified":"2017-05-27T04:41:04","modified_gmt":"2017-05-27T04:41:04","slug":"new-home-sales-face-a-setback","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-face-a-setback\/","title":{"rendered":"New-Home Sales Face a Setback"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div><!--\n\n\n<pre>--><\/p>\n<div>\n<p><!--paging_filter--><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone\" style=\"width: 600px; height: 247px;\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_may\/regional_nhs_apr17.png?resize=600%2C247\" alt=\"Home Sales Face a Setback\" width=\"600\" height=\"247\" \/><\/p>\n<p>Sales of newly built single-family homes plunged 11.4 percent in April to a seasonally adjusted annual rate of 569,000 units, the first time such sales have decreased this year, the Commerce Department reported this week. Still, builders are writing off the dip as a minor setback, instead focusing on the bigger picture.<\/p>\n<p>&#8220;Despite some slowness this month, total new-home sales in 2017 are up more than 11 percent from this time last year, and builders are optimistic about future market conditions,&#8221; says Granger MacDonald, chairman of the National Association of Home Builders.<\/p>\n<p>New-home inventories were at 268,000 in April, which\u00a0is a 5.7-month supply at the current sales pace. The median sales price of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">new homes<\/a> sold in April was $309,200.<\/p>\n<p>The West posted the biggest month-over-month drop in new-home sales, decreasing 26.3 percent month-over-month. The Midwest saw new-home sales drop by 13.1 percent, the Northeast saw a 7.5 percent decrease, and the South saw a 4 percent drop.<\/p>\n<p>&#8220;New-home sales were strong in the first three months of 2017, so some pullback in April is to be expected,&#8221; says NAHB Chief Economist Robert Dietz. &#8220;However, our forecast calls for new-home sales to increase throughout the year, buoyed by rising household formations, continued job growth and tight existing-home inventory.&#8221;<\/p>\n<p><em>Source: National Association of Home Builders<\/em><\/p>\n<\/div>\n<\/div>\n<p><a> Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Sales of newly built single-family homes plunged 11.4 percent in April to a seasonally adjusted &hellip; <a title=\"New-Home Sales Face a Setback\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-face-a-setback\/\"><span class=\"screen-reader-text\">New-Home Sales Face a Setback<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4673,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[433,12908,543,215,248,127,617,258,204,2886,818,479],"class_list":["post-4672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-face-a-setback","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homes","tag-house","tag-new-home","tag-new-homes","tag-optimistic","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/regional_nhs_apr17.png?fit=600%2C247&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":8643,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-bring-spring-disappointment\/","url_meta":{"origin":4672,"position":0},"title":"New-Home Sales Bring Spring Disappointment","author":"Amazing Property","date":"May 24, 2018","format":false,"excerpt":"Sales of newly built single-family homes fell in April\u2014a time that is usually the bustling springtime\u00a0home buying market. But builders remain upbeat and are quick to point out that\u00a0sales are still near a post-recession high, regardless of the latest drop.\u00a0 Sales of newly built, single-family homes dropped 1.5 percent in\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Regional Nhs Apr18.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/regional_nhs_apr18.png?fit=600%2C247&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/regional_nhs_apr18.png?fit=600%2C247&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/regional_nhs_apr18.png?fit=600%2C247&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5875,"url":"https:\/\/amazingproperty.com.ng\/blog\/are-new-homes-pricing-out-too-many-buyers\/","url_meta":{"origin":4672,"position":1},"title":"Are New Homes Pricing Out Too Many Buyers?","author":"Amazing Property","date":"August 24, 2017","format":false,"excerpt":"The prices of newly built homes are rapidly rising, which\u00a0may have\u00a0caused\u00a0the plunge\u00a0in new-home sales last month, CNBC reports.\u00a0Sales of newly built single-family homes tumbled 9.4 percent month over month in July to a seasonally adjusted annual rate of 571,000 units, the U.S. Department of Housing and Urban Development and the\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"regional_nhs_jul17.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/regional_nhs_jul17.png?fit=620%2C255&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/regional_nhs_jul17.png?fit=620%2C255&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/regional_nhs_jul17.png?fit=620%2C255&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5499,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-are-high-but-they-could-be-higher\/","url_meta":{"origin":4672,"position":2},"title":"New-Home Sales Are High, But They Could Be Higher","author":"Amazing Property","date":"July 27, 2017","format":false,"excerpt":"New-home sales inched up 0.8 percent in June, but sales would be higher if there were more new homes to sell. Sales of newly built single-family homes reached a seasonally adjusted annual rate of 610,000 units in June, according to a joint report released by the U.S. Census Bureau and\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/regional_nhs_jun17.png?fit=620%2C255&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/regional_nhs_jun17.png?fit=620%2C255&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/regional_nhs_jun17.png?fit=620%2C255&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2442,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-jump-6\/","url_meta":{"origin":4672,"position":3},"title":"New-Home Sales Jump 6%","author":"Amazing Property","date":"March 24, 2017","format":false,"excerpt":"Sales of newly built single-family homes posted a robust month in February. New-home sales rose to a seasonally adjusted annual rate of 592,000 units, up 6.1 percent month over month and 12.8 percent ahead of last year, the Commerce Department reported this week. Read more: Buyers Are Being Drawn to\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5078,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-prices-hit-record-high\/","url_meta":{"origin":4672,"position":4},"title":"New-Home Prices Hit Record High","author":"Amazing Property","date":"June 26, 2017","format":false,"excerpt":"[ad_1] The median price for a new single-family home reached a record high in May of $345,800, the Commerce Department reports. Buyers will be paying a huge premium for new construction, as new-home prices are now 16.8 percent higher than they were a year ago. So far, however, the higher\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/regional_nhs_may17.png?fit=620%2C255&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/regional_nhs_may17.png?fit=620%2C255&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/regional_nhs_may17.png?fit=620%2C255&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7271,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-surge-to-10-year-high\/","url_meta":{"origin":4672,"position":5},"title":"New-Home Sales Surge to 10-Year High","author":"Amazing Property","date":"November 28, 2017","format":false,"excerpt":"Sales of new single-family homes jumped 6.2 percent in October to a seasonally adjusted annual rate of 685,000 units, the Commerce Department reported Monday. This marks the highest pace for new-home sales since October 2007. \u201cThe October report shows strong sales growth at entry-level price points,\u201d\u00a0says Granger MacDonald, chairman of\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Regional Nhs Oct17.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/regional_nhs_oct17.png?fit=600%2C247&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/regional_nhs_oct17.png?fit=600%2C247&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/regional_nhs_oct17.png?fit=600%2C247&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=4672"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/4672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/4673"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=4672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=4672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=4672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}