Seeking Alpha

New Home Sales at 384K

Comments (14)
  • Matthew Davis
    , contributor
    Comments (3697) | Send Message
     
    Housing slowing down, all the corporate money is drying up.
    23 Apr, 10:03 AM Reply Like
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    Is the effect of good weather on sales?
    23 Apr, 10:08 AM Reply Like
  • permanent
    , contributor
    Comments (118) | Send Message
     
    Extremely interest rate sensitive. Not a good sign for the state of the housing market.
    23 Apr, 10:10 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (3697) | Send Message
     
    The myth of if the sun is shining people are buying houses has been debunked
    23 Apr, 10:10 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3304) | Send Message
     
    Is the inventory of new homes growing or decreasing?
    23 Apr, 10:19 AM Reply Like
  • quinnman
    , contributor
    Comments (104) | Send Message
     
    If sales are plummeting what do you think? Supply/demand curve....
    23 Apr, 11:14 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3304) | Send Message
     
    Doesn't answer the question. Builders complaining of the lack of open lots and experienced labor. Housing prices would be plummeting if there was a great supply, which they are not.
    23 Apr, 11:16 AM Reply Like
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    "The months of supply increased in March to 6.0 months from 5.0 months in February."
    Read more at http://bit.ly/QEVeYa
    23 Apr, 11:54 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3304) | Send Message
     
    Thanks. New homes only?
    23 Apr, 02:40 PM Reply Like
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    Yes inventory of new homes.

     

    http://bit.ly/QFv1J5
    "Even with the increase in sales over the last two years, new home sales are still near the bottom for previous recessions.

     

    The second graph shows New Home Months of Supply.

     

    The months of supply increased in March to 6.0 months from 5.0 months in February.

     

    The all time record was 12.1 months of supply in January 2009.

     

    New Home Sales, Months of Supply This is now in the normal range (less than 6 months supply is normal).

     

    "The seasonally adjusted estimate of new houses for sale at the end of March was 193,000. This represents a supply of 6.0 months at the current sales rate."

     

    On inventory, according to the Census Bureau:

     

    "A house is considered for sale when a permit to build has been issued in permit-issuing places or work has begun on the footings or foundation in nonpermit areas and a sales contract has not been signed nor a deposit accepted."

     

    Read more at http://bit.ly/QFv1Zi
    23 Apr, 04:06 PM Reply Like
  • OptionManiac
    , contributor
    Comments (3304) | Send Message
     
    Thanks! Let's see if this is a trend or not.
    23 Apr, 05:28 PM Reply Like
  • quinnman
    , contributor
    Comments (104) | Send Message
     
    It was 4.2 months in Mar '13. So my question did answer your's re inventory
    24 Apr, 11:51 AM Reply Like
  • ending
    , contributor
    Comment (1) | Send Message
     
    Please, this is largely Easter/Passover moved from March to April this year vs. last year. April numbers will be strong. Just look at airline demand y/y. -5% y/y in March, +7% y/y in April/Feb.
    23 Apr, 10:20 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (3697) | Send Message
     
    Houses and airplanes, interesting analogy.
    23 Apr, 10:30 AM Reply Like
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