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Tag Archives: Census Bureau

October New Home Sales Dip After Downward Revision for September

New home sales barely budged in October, dropping 0.37 percent to 368,000 after September’s report was revised sharply downward from an original 389,000 to 369,000, Census Bureau and HUD reported Wednesday. Economists surveyed by Bloomberg expected the report to show a sales pace of 387,000.

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Housing Starts Up in October, Completions Soar

Housing starts rose 3.6 percent in October to a seasonally adjusted annual rate of 894,000, the highest level since July 2008, but permits for new residential construction fell the Census Bureau and HUD reported jointly Tuesday. Housing completions soared in October, up 14.5 percent during the month to 772,000, the highest level since June 2010. The increase in completions was led by a 5.3 percent jump in multifamily completions. Single-family completions in October reached their highest level since June 2010, increasing to 542,000.

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Homeownership Rate Stays Near Historic Lows

The number of households owning homes rose to 75,076,000 in the third quarter from 74,832,000 in the second, but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) remained at 65.5 percent. The homeownership rate stayed near historic lows. The rate in the first quarter was 65.4 percent, the lowest since the first quarter of 1997.

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September New Home Sales at 30-Month High

New home sales jumped 5.7 percent in September to a seasonally adjusted average annualized rate of 389,000, the highest rate since April 2010, the Census Bureau and HUD reported Wednesday. The month-to-month sales improvement was the strongest since February, when sales improved 27,000, or 8.0 percent. While sales numbers improved, both the median and average sales price of a new home dropped month-to-month. Sales were still up 27.1 percent from September 2011, the strongest year-over-year gain since February.

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Home Affordability Limited to Half of All Major U.S. Cities: Study

With home prices down so far down from their peak and mortgage rates hovering around record lows, many analysts are saying home affordability could hardly be any higher. However, a study released by Interest.com shows homes are only truly affordable in about half of the nation’s major cities. Rising expenses and stagnant wages are preventing median-income households from being able to afford median-income homes, explained Mike Sante, managing editor for Interest.com.

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September Housing Permits, Starts at 4-Year Highs

Housing starts and permits jumped in September to their highest levels since July 2008, Census Bureau and Department of Housing and Urban Development reported jointly Wednesday. Housing starts jumped 15.0 percent from August to a seasonally adjusted annual rate of 872,000, while permits improved 11.6 percent to 894,000.

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Single-Family Starts at 2-Year High in August, Permits Slip

Single family starts increased 28,000 in August to 535,000, the highest level since April 2010, the Census Bureau and Department of Housing and Urban Development reported jointly Wednesday. Despite the increase total, housing starts improved just 17,000 as multi-family starts fell.

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Report: Homeownership at Lowest Rate in Nearly 50 Years

A report released Monday from John Burns Real Estate Consulting revealed that the real homeownership rate-measured as the percentage of households that own a home and are not seriously delinquent on their mortgage-has fallen to 62.1 percent, the lowest level in almost half a century. The firm said that the Census Bureau's 65.5 percent homeownership estimate was a vast overestimate, as it includes 3.8 million homeowners who are 90 or more days delinquent.

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Fixed Mortgage Rates Continue Upward Trend

According to Freddie Mac's weekly Primary Mortgage Market Survey (PMMS), the 30-year fixed rate mortgage (FRM) averaged 3.66 percent (0.7 point) for the week ending August 23, up from 3.62 percent the previous week. The 15-year FRM also slid up, averaging 2.89 percent (0.6 point). A week ago, the 15-year fixed averaged 2.88 percent.

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July New Home Sales Improve, Prices Drop

New home sales regained all the ground they lost in June, jumping by 13,000 to an annualized rate of 372,000 in July, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected the report to show a sales pace of 362,000.

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