{"id":8643,"date":"2018-05-24T00:00:00","date_gmt":"2018-05-24T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-bring-spring-disappointment\/"},"modified":"2018-12-30T18:21:52","modified_gmt":"2018-12-30T18:21:52","slug":"new-home-sales-bring-spring-disappointment","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-bring-spring-disappointment\/","title":{"rendered":"New-Home Sales Bring Spring Disappointment"},"content":{"rendered":"

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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<\/span>.\u00a0<\/p>\n

Sales of newly built, single-family homes dropped 1.5 percent in April, reaching a seasonally adjusted annual rate of 662,000 units, the U.S. Commerce Department reported Wednesday.\u00a0<\/p>\n

\u201cBuilders are optimistic that more prospective buyers will enter the market in the months ahead,\u201d says Randy Noel, chairman of the National Association of Home Builders.\u00a0<\/p>\n

Regionally, new-home sales last month posted a significant drop in the West, with new-home sales falling 7.9 percent month-over-month in April after a very strong March. New-home sales rose 11.1 percent in the Northeast in April, and rose by 0.3 percent in the South. New-home sales remained unchanged in the Midwest.\u00a0<\/p>\n

Inventories crept up slightly. The inventory of new homes for sale<\/a> was 300,000 in April, a 5.4-month supply at the current sales pace. The median sales price of a new house sold was $312,400, which is 0.4 percent higher than a year ago.\u00a0<\/p>\n

Inventories are low but within averages since 2013, and the regional breakdown isn\u2019t showing any clear signs of adverse weather that could be hampering new-home sales, Andrew Grantham with CIBC told MarketWatch. \u201cInstead, we could be seeing some early signs that rising interest rates are taking some momentum out of the market,\u201d he notes.\u00a0<\/p>\n

Builders remain optimistic that the dip in sales last month was just a temporary hiccup. \u201cWith job growth, rising incomes, and overall economic strengthening, we can expect housing<\/a> demand to continue to grow, particularly among millennials and other newcomers to the market,\u201d says Michael Neal, senior economist at the National Association of Home Builders. \u201cHowever, builders need to manage rising construction costs as well as regulatory hurdles to keep their homes competitively priced.\u201d\u00a0<\/p>\n

Source: National Association of Home Builders and \u201cNew-Home Sales Wobble in April, Commerce Says,\u201d MarketWatch (May 23, 2018)<\/em><\/p>\n<\/div>\n

Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sales of newly built single-family homes fell in April\u2014a time that is usually the bustling springtime\u00a0home … New-Home Sales Bring Spring Disappointment<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8645,"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":[1403,2890,62,12908,543,215,248,127,557,617,344,258,204,569,2886,41,818,479,15319],"class_list":["post-8643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-construction","tag-for-sale","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homes","tag-homes-for-sale","tag-house","tag-housing","tag-new-home","tag-new-homes","tag-new-homes-for-sale","tag-optimistic","tag-property","tag-real","tag-realtor","tag-weather"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/regional_nhs_apr18.png?fit=600%2C247&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4672,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-face-a-setback\/","url_meta":{"origin":8643,"position":0},"title":"New-Home Sales Face a Setback","author":"Amazing Property","date":"May 24, 2017","format":false,"excerpt":"\u00a0 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\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Home Sales Face a Setback","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/regional_nhs_apr17.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\/05\/regional_nhs_apr17.png?fit=600%2C247&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/regional_nhs_apr17.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":8643,"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 "Opportunities In New Markets"","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":2442,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-jump-6\/","url_meta":{"origin":8643,"position":2},"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 "Opportunities In New Markets"","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":1383,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-are-being-drawn-to-new-homes\/","url_meta":{"origin":8643,"position":3},"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 "Opportunities In New Markets"","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":6415,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-supply-up-but-not-enough\/","url_meta":{"origin":8643,"position":4},"title":"New-Home Supply Up, But Not Enough","author":"Amazing Property","date":"September 27, 2017","format":false,"excerpt":"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's despite the fact that the number\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"regional_nhs_0817.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/regional_nhs_0817.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\/09\/regional_nhs_0817.png?fit=620%2C255&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/regional_nhs_0817.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":8643,"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. 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