New Homes Sold Midwest Region

The US Census released their New Homes Sold Report today.

Sales of new single-family houses in December 2011 were at a seasonally adjusted annual rate of 307,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 2.2 percent (±13.2%)* below the revised November rate of 314,000 and is 7.3 percent (±16.6%)* below the December 2010 estimate of 331,000.

The median sales price of new houses sold in December 2011 was $210,300; the average sales price was $266,000.  The seasonally adjusted estimate of new houses for sale at the end of December was 157,000.  This represents a supply of 6.1 months at the current sales rate.

Read Full Report

As usual Calculated Risk has a great post on this report, worth reading.

CalculatedRisk chart

 

 

 

 

 

 

Below is the Midwest Region New Homes Sold compared the national…  Nationally the New Home Sales have been bouncing around, while the Midwest Region is showing a gradual increase with a slight dip in December.   Just another barometer to the housing market.

The Midwest Region posted a decline of 2,000 New Homes Sold for December from November 2011.  54,000 New Homes Sold in November and 52,000 New Homes Sold in December.  I suspect we will see the gradual increase for the Midwest Region going into 2012, especially since inventory is way down.

 

 

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New Home Sales, US Census for the Midwest Region

The US Census Bureau published the New Home Sales for the 3rd Quarter.  From a national perspective new home sales rose 1.3% above the revised September rate of 303,000.

Sales of new single-family houses in October 2011 were at a seasonally adjusted annual rate of 307,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.3 percent (±19.7%)* above the revised September rate of 303,000 and is 8.9 percent (±17.2%)* above the
October 2010 estimate of 282,000.

The median sales price of new houses sold in October 2011 was $212,300; the average sales price was $242,300. The seasonally adjusted estimate of new houses for sale at the end of October was 162,000. This represents a supply of 6.3 months at the current sales rate.

US Census Bureau New Home Sale Index

 

For more detailed analysis and charts like above of the National Stats, check out CalculatedRisk.

 

Midwest Region:

As we all know, real estate markets are local. The report does not break it down to the Twin Cities market, but it does break it down to the Midwest Region.  The Midwest region shows New Home Sales holding steady from 2nd Quarter to 3rd Quarter 2011.


 

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New Home Sales increase in September 2011

The September report from the US Census  shows an increase of New Home Sales for September 2011.

Sales of new single-family houses in September 2011 were at a seasonally adjusted annual rate of 313,000, according to
estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 5.7 percent (±18.4%)* above the revised August rate of 296,000, but is 0.9 percent (±16.3%)* below the
September 2010 estimate of 316,000. p ,
The median sales price of new houses sold in September 2011 was $204,400; the average sales price was $243,900.  The
seasonally adjusted estimate of new houses for sale at the end of September was 163,000.  This represents a supply of 6.2
months at the current sales rate.
Read Full Report from the US Census
Chart from Calculated Risk (click to go to Calculated Risk)

Calculated Risk has great charts on this report.  View Calculated Risk’s Post.

The report also gets into the Midwest regions figures.  This region covers a large geographic area so it is not a true reflection on our local market, but still interesting to see.  The Midwest region is down 12.2% from August to September 2011.  Not the greatest news but keep in mind the size of the midwest region, which includes Illinois and Michigan.

 

 

 

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