Existing Home Sales Spike In MarchExisting home sales jumped to their highest annual rate in 18-months, while unsold inventory showed needed improvement. Led by the Midwest, all major regions experienced strong sales gains in March and are above their year-over-year sales pace.SummaryTotal existing home sales increased 6.13% to a seasonally adjusted annual rate of 5.19 million - the highest annual rate since September 2013. Sales have increased year-over-year for six consecutive months and are now 10.43% above a year ago, the highest annual increase since August 2013 » [read more]

 

Housing Starts Sluggish As Building Permits Post Record DropNew housing starts rose far less than expected and permits recorded their biggest drop since last May, which could raise concerns about the economy's ability to bounce back from a soft patch hit in the first quarter.Housing Starts Sluggish As Building Permits Post Record DropGroundbreaking increased 1.98% to a seasonally adjusted annual pace of 926,000 units. That left the bulk of February's decline, which had been blamed on bad weather, intact. » [read more]

 

Available Inventory Hits Two Million UnitsTotal housing inventory at the end of the month climbed 5.3% to 2.00 million existing homes available for sale, and is now 2.0% above a year ago. Unsold inventory is at a 4.6-month supply at the current sales pace, down from 4.7 months in February.Available Inventory Hits Two Million UnitsThe percent share of first-time buyers was 30% in March, marking the third time since last March that the first-time buyer share was at or above 30%. All-cash sales were 24% of transactions, down from 26% the previous month and down considerably from a year ago when they were at 33%. » [read more]

 

Home Builder Confidence RisesSpring is finding home builders in a sunnier mood as sales appear to be blooming. Sentiment among the nation's home builders rose four index points to 56 last month. The index measures builder perceptions of current single family homes sales, sales expectations for the next six months, and it rates buyer traffic.Home Builder Confidence RisesThe component measuring future sales rose five points to its highest level of the year. Sales expectations in the next six months jumped five points to 64, and the index measuring buyer traffic rose four points to 41. » [read more]

 

Home Sales Slow Down As Available Inventory Remains Subdued

Existing home sales declined in to their lowest rate in nine months, but the pace was higher than a year ago for the fourth straight month. All major regions experienced declines with the Northeast and West seeing the largest.SummaryTotal existing home sales fell 4.9% to a seasonally adjusted annual rate of 4.82 million, the lowest since last April, from an upwardly-revised 5.07 million the month before. Despite the decline, sales are higher by 3.2% than a year ago. » [read more]

 

Housing Starts Fall But Still At Strong LevelsHousing starts fell in as ground breaking for single-family projects slipped off a 6.5-year peak, but stayed at levels consistent with a gradually improving housing market.Housing Starts Fall But Still At Strong LevelsGroundbreaking declined 2.0% to a seasonally adjusted annual pace of 1.07 million units. The previous month's starts were barely revised at a 1.09 million-unit pace and this month's reading was in line with economist's expectations. » [read more]