Mix shift begins to kick in

Behind this month’s new home sales headline drop, median prices flatten, and may be turning down.

By John McManus | Builder

The new home sales top-line number announced yesterday by the Census Bureau and the Department of Housing and Urban Development fell way short of housing analyst expectations. So, what happened? Compared with a strong June 2017 number, and an even stronger July 2016 number, the seasonally adjusted annual rate of 571,000 new home orders in July was a sharp surprise to the negative.

Most analysts focus, for perspective’s sake, on two areas of yesterday’s data print. One is the “noise” in the data. The other is “the tell” in regional detail that may [or may not, since we’re merely talking about one month’s performance] reflect the beginning of a price mix shift to more attainable payment levels for would-be home shoppers.


Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories

Phoenix a top build-to-rent city

Photo via NextMetro Communities By: AZ Big Media After years of surging home prices and more renters staying away from a mortgage commitment, the construction of single-family homes built solely for renting is breaking records. And Phoenix

Read More »