New-home sales dropped in July after solid first-half run

New home sales fell by record amount in 2007 – Business. – WASHINGTON – New home sales plunged in 2007 by the largest amount on record while home prices tumbled sharply in December. Analysts forecast more trouble in 2008 as housing tries to emerge from.

Average new home prices rose 0.3 percent in July versus June. for an economy heading for its weakest growth in 25 years. Property sales bottomed out during the first half of 2015 after declining.

The supply of homes at the current sales rate rose to 5.8 months from 5.2 months; 276,000 new houses were on the market at end of July. Purchases fell in three of four U.S. regions, including a 23.8% decrease in the Northeast and a 21.3% drop in the West.

Gross domestic product in the July. drop in state and federal spending was much smaller than the 2.8% decrease in the second quarter, however. That’s also helped to improve third-quarter growth..

* Total: On the heels of the largest sequential decline of the year in June, New home sales dropped -10K ( -2.4%) sequentially in July to 412K SAAR. New Home sales represented just 7.4% of total home sales in the latest month, the lowest share percentage since September of last year (see 1st chart below).

There are some blaming flat new home sales on Superstorm Sandy. The Census believes Sandy’s impact was minimal and as we can see the flat sales were going on long before the storm hit on October 29th. The average home sale price was $278,900, a -4.3% drop from last month’s average price of $291,400.

New U.S. single-family home sales posted their biggest decline in nearly a year in August after soaring to nine-year highs the month before, with analysts saying the trend in sales remains positive. The Commerce Department said on Monday new home sales fell 7.6% to a seasonally adjusted annual rate of 609,000 units last month.

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The employment gauge may decline in July to the lowest level since March 2009, HSBC said. ZTE Corp., China’s second-biggest maker of telecommunications equipment, said this month that first-half..

New home sales jumped 7% over the same time last year on a SAAR-basis while existing sales dipped 4.4%. Based on the forward-looking data, we expect these metrics to begin to inflect higher by the.

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