New Home Sales m/m: 2.4%, forecast -0.9%, pr. -2.1% R (Jun), -1.7% (May)

The pace of annual new homes sales increased to 515K in July from June's downwardly revised 503K. That was a serious correction as sales were originally reported at 530K. With that revision, housing sales increased 2.4% but were still below expectations of a 525K. The news is a negative counter-punch to the upbeat existing home sales data seen yesterday. With many bargains and discounts to be had on the used home market, new homes may see a decline in interest.

New Home Sales m/m: -0.6%, forecast -2.7%, pr. -1.7% (rev from -2.5%), 3.3% (Apr)

Sales of new home sales were down 0.6% this month, but only because the figures for the month of May were revised up. For June, the annual pace of new home sales was 530K, better than expectations of 510K. The data was better than expected, but overall conditions in the US housing market remain bleak. Year-over-year new home sales were 33.3% lower than in the level in June 2007. The median price of a new home was down 2% during the same time. Declining prices hurt the sellers of homes and limit buying as potential buyers wait for even lower prices. Inventories were down to an estimated 426,000 homes, continuing a downward trend. The extra supply of homes is also pressuring prices, as demand remains weak. On a non-seasonally adjusted basis there was an estimated 49,000 homes actually sold in June, down from 51,000 in May.  

The report is welcome news after a disappointing release earlier in the week from existing home sales.

New Home Sales m/m: -2.5%, forecast -2.7%, pr. 3.3%

New home sales retreated for the 5th time in the last 6 months, falling 2.5% for the May period to an annual pace of 512K. Inventories of homes declined to an estimated 453,000 homes for sale at the end of May from April's 461,000 as earlier bloated inventories were depressing housing and construction. The median price for a new home decreased by 5.7% to $231,000 in May from $245,000 in May 2007. The average price rose by 0.5% to $311,000 from $309,700.

Potential home buyers are facing higher mortgage rates, and continue to wait for prices to decline, as there has not been a bottom yet in the US housing market.

New Home Sales m/m: 3.3%, forecast 0.1%, pr. -11.0% (rev from -8.5%)

New home sales showed a 3.3% increase for the month of April, though the number corresponds to a downwardly revised March figure. The annual pace for April was 526K new home sales, up from 509K in March. The revised figure for March was the lowest in 17 years, while housing prices are falling the S&P/Case Shiller report showed today. The housing market will continue to be a drag on the US economy, and financial institutions will continue to have problems as long as prices keep coming down and more homes are enter foreclosure. Lenders have tightened up their standards, while home purchasers are reluctant to buy. The housing situation does not seem to be bottoming out.

For March
Provided by: US Census Bureau

New Home Sales m/m: -8.5%, forecast -1.0%, pr. -5.3% (rev. from-1.8%), -2.8% (Jan)

The annual rate of new home sales fell to a 17-year low. Also the previous posting was revised down heavily. The Month's Supply is now at a 27-year high of 11. This means, even as less and less houses are entering the market, inventory is still piling up. The housing market sees no bottom, but the market already knew that. The median sales price declined 13.3% from a year ago. Today's better than expected durable goods orders overshadowed the poor home sales data. The market's assessment of manufacturing demand has been mixed, making it more sensitive to unexpected figures.

For February
Provided by: US Census Bureau

New Home Sales m/m: -1.8%, forecast -1.7%, pr. -2.8% (Jan), -4.7% (Dec), -12.6% (Nov-R)

New home sales have been in a free fall the last 10 months, falling from a pace of almost a million in April to 588K in January. Expectations were for a 1.7% decline in January. Since January's total was revised up to 601K, February's 590K was still technically a fall for the month. However the total beat expectations of rate of 578K for the month.

The news though better than expected did little to change the Dollar's decline vs the Euro and Pound, and a fall in US stock markets as a result of earlier poor news in the form of negative Durable Goods Orders.

For January
Release from US Census Bureau

US New Home Sales data disappointed forecasts and fell to the lowest level in 12 years, adding more negative news to the Dollar which is experiencing broad weakness this week. 

"Sales of new one-family houses in January 2008 were at a seasonally adjusted annual rate of 588,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.8 percent (±15.3%)* below the revised December rate of 605,000 and is 33.9 percent (±10.0%) below the January 2007 estimate of 890,000.

The median sales price of new houses sold in January 2008 was $216,000; the average sales price was $276,600. The seasonally adjusted estimate of new houses for sale at the end of January was 482,000. This represents a supply of 9.9 months at the current sales rate."

For December.
Official Release from the US Department of Commerce

New Home Sales m/m: -4.7%, consensus: -0.3%, previous: -12.6% (Nov-R), 1.7% (Oct).

New Home Sales fell more than anticipated in December, dropping 4.7% from November to an annual pace of 604K. The consensus had been for a much smaller drop. It is the lowest level of new home sales in 12 years. November's number was revised down by 13K as well. The fundamental news from the housing front continues to give poor results, with no signs of bottoming out yet.

The median sales price tumbled 10.4% to $219,200 compared with December 2006. It marked the biggest year-over-year drop in the median sales price since 1970.