{"id":6415,"date":"2017-09-27T00:00:00","date_gmt":"2017-09-27T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-home-supply-up-but-not-enough\/"},"modified":"2017-09-27T00:00:00","modified_gmt":"2017-09-27T00:00:00","slug":"new-home-supply-up-but-not-enough","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-home-supply-up-but-not-enough\/","title":{"rendered":"New-Home Supply Up, But Not Enough"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"48.166358595194\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"43.874306839187\"><!--paging_filter--><\/p>\n<p>Sales of newly built single-family homes did little to break out at the end of summer. New-home sales plunged 3.4 percent in August to a seasonally adjusted annual rate of 560,000, the lowest sales reading since December 2016, the Commerce Department reported Tuesday. That&#8217;s despite the fact that the number of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">new homes<\/a> on the market was at its highest level since July 2014.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_sept\/regional_nhs_0817.png\" style=\"width: 620px; height: 255px;\"\/><\/p>\n<p>The disconnect may be more about the types of new-home construction\u00a0favored by the industry at the moment. \u201cThis month\u2019s report is another reminder that builders need to manage rising supply-side costs to meet consumer demand for affordably priced homes,\u201d says Granger MacDonald, chairman of the National Association of Home Builders.<\/p>\n<p>Sales last month dropped by the largest amount in the South, falling 4.7 percent month over month. Hurricane Harvey struck the Houston area last month, and Hurricane Irma\u2019s damage to Florida likely will have an impact on sales over the next few months, the builder\u2019s trade group says.<\/p>\n<p>\u201cWe may see more volatility in the next few months as communities affected by the recent hurricanes experience construction delays and other economic disruptions,\u201d says Robert Dietz, NAHB\u2019s chief economist.<\/p>\n<p>Still, new home sales were 7.5 percent higher than the same period a year ago. The inventory of new <a href=\"https:\/\/amazingproperty.com.ng\/blog\/homes-for-sale-near-abijo-in-lekki\/\">homes for sale<\/a> in August was 284,000, a 6.1-month supply at the current sales pace.\u00a0The median sales price of a new home in August was $300,200.<\/p>\n<p><em>Source: National Association of Home Builders and \u201cU.S. New-Home Sales Declined in August,\u201d The Wall Street Journal (Sept. 26, 2017) [Log-in required.]<\/em><\/p>\n<\/div>\n<\/div>\n<p><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/Pk8wb_qOydQ\/new-home-supply-up-not-enough\"> Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales of newly built single-family homes did little to break out at the end of summer. &hellip; <a title=\"New-Home Supply Up, But Not Enough\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/new-home-supply-up-but-not-enough\/\"><span class=\"screen-reader-text\">New-Home Supply Up, But Not Enough<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6416,"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":[2890,62,12908,543,215,248,127,557,258,204,569,41,818,479],"class_list":["post-6415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-construction","tag-for-sale","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homes","tag-homes-for-sale","tag-new-home","tag-new-homes","tag-new-homes-for-sale","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1383,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-are-being-drawn-to-new-homes\/","url_meta":{"origin":6415,"position":0},"title":"Buyers Are Being Drawn to New Homes","author":"Amazing Property","date":"February 27, 2017","format":false,"excerpt":"[ad_1] Sales of newly built, single-family homes increased 3.7 percent last month, reaching a seasonally adjusted annual rate of 555,000 units, the Commerce Department reports. \"We can expect further growth in new home sales throughout the year, spurred on by employment gains and a rise in household formations,\" says Robert\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\/02\/fb_reg_new_jan17.png?fit=600%2C222&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/fb_reg_new_jan17.png?fit=600%2C222&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/fb_reg_new_jan17.png?fit=600%2C222&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5885,"url":"https:\/\/amazingproperty.com.ng\/blog\/half-of-homes-sold-in-less-than-a-month\/","url_meta":{"origin":6415,"position":1},"title":"Half of Homes Sold in Less Than a Month","author":"Amazing Property","date":"August 24, 2017","format":false,"excerpt":"Fifty-one percent of homes sold in July were on the market for less than a month, according to the National Association of REALTORS\u00ae\u2019 existing-home sales report, released Thursday. Properties typically stayed on the market for 30 days in July, down from 36 days a year ago. \u201cBuyer interest in most\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":"July-EHS-Infographic.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/July%20EHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/July%20EHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/July%20EHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/July%20EHS%20Infographic.jpg?fit=750%2C800&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":7271,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-surge-to-10-year-high\/","url_meta":{"origin":6415,"position":2},"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":[]},{"id":3867,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-rushing-toward-new-construction\/","url_meta":{"origin":6415,"position":3},"title":"Buyers Rushing Toward New Construction","author":"Amazing Property","date":"April 26, 2017","format":false,"excerpt":"Sales of newly built single-family homes increased for the third consecutive month, posting a strong showing to the spring selling season, the Commerce Department reported Tuesday. Single-family new-home sales rose 5.8 percent in March to a seasonally adjusted annual rate of 621,000 units. \u201cThe March sales numbers are the second\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":8643,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-bring-spring-disappointment\/","url_meta":{"origin":6415,"position":4},"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":8373,"url":"https:\/\/amazingproperty.com.ng\/blog\/2018-home-sales-off-to-sluggish-start\/","url_meta":{"origin":6415,"position":5},"title":"2018 Home Sales Off to Sluggish Start","author":"Amazing Property","date":"February 21, 2018","format":false,"excerpt":"Blame it on the housing shortage: Existing-home sales posted their largest declines on an annual basis in more than three years, the National Association of REALTORS\u00ae reported Wednesday. All major regions of the U.S. saw monthly and annual sales decline in January. \u201cThe utter lack of sufficient housing supply 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":"January Ehs Infographic.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/January-EHS-Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/January-EHS-Infographic.jpg?fit=750%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/January-EHS-Infographic.jpg?fit=750%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/January-EHS-Infographic.jpg?fit=750%2C800&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/regional_nhs_0817.png?fit=620%2C255&ssl=1","_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6415","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=6415"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6415\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/6416"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}