Keeping you up to date on the latest data releases.
- New Home Sales
New single-family home sales soared 26.9 percent in March, breaking a chain of four consecutive declines and boosting the annual sales pace to 411,000 units, the highest level since last July. Percentage-wise, the increase was the second largest since records began in 1963. However, despite the outsized uptick, the current sales pace still runs far below historic averages due to the depth of the housing downturn and recession. Year-over-year growth in sales jumped all the way up from −13.8 percent to 22.6 percent. Until this point, year-over-year growth had been solidly negative since December 2005, the only exception being a brief stint of growth last October. Months of supply dropped from 8.6 to 6.7 months in March and have deflated significantly since the 12.4-month peak reached in January 2009. Year-over-year growth in the median sales price currently stands at 4.3 percent and has been positive now for three months straight.