Paper Economy - A US Real Estate Bubble Blog: New Home Sales: January 2012

Friday, February 24, 2012

New Home Sales: January 2012

Today, the U.S. Census Department released its monthly New Residential Home Sales Report for January showing a monthly decline with sales dropping 0.97% since December but rising 3.55% above the level seen in January 2011 and remaining at an historically low level of 321K SAAR units.

It's important to recognize that the inventory of new homes has now fallen to a new series low at 151K units, lowest level seen in in at least 47 years while the median number of months for sale increased to 7.1.

The monthly supply declined to 5.6 months while the median selling price declined 9.57% and the average selling price declined 5.11% from the year ago level.

The following chart show the extent of sales decline to date (click for full-larger version).

Labels: economy, housing, new home sales

11 Comments:

Very good graph showing the real position of real estate. Whenever real estate booms there will always follow a bust sooner or later. Now is a good buying market but always take a long term view with real estate. If you are looking for short term profits don't buy real estate.

By discount hotel reservations, at 12:09 AM
Many people want to invest in houses rather than apartments because of the land value. Remember when real estate prices crash it is the land value that is crashing not the building value so apartments tend to hold their value better.

By 31 Day Fat Loss Cure, at 12:12 AM
Thanks for the great graph. I can never understand why people want to jump in and buy in a booming market. When investing if the numbers don't make sense don't buy.

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By We buy Houses CASH, at 12:39 AM
The declining rate of new homes for sale is a bit sad but for sure, the real estate will bounce back soon, big time. Still crossing my fingers for that to happen soooon enough!>

By Deborah Beaver, at 8:00 PM
This post were incredible and I am impressed with your insight by sharing this graph. A lot of thanks for sharing.

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By Real estate Philippines, at 3:18 AM
Good information about sales decline in single family homes and thanks for sharing the graph. This post really helped me in needed time.

By New home sales, at 11:53 PM
Very good graph displaying the true situation involving real estate property. Every time real estate property booms there will always follow a bust sooner or later. Might be a great buying industry yet usually take a long term see with real estate. If you're looking for brief term earnings don't think of buying real estate property.
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By real estate philippines, at 10:46 PM