{"id":97790,"date":"2020-10-26T16:31:05","date_gmt":"2020-10-26T13:31:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-home-sales-dip-slightly-in-september-but-remain-strong-going-into-fall\/"},"modified":"2020-10-26T16:31:05","modified_gmt":"2020-10-26T13:31:05","slug":"new-home-sales-dip-slightly-in-september-but-remain-strong-going-into-fall","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-home-sales-dip-slightly-in-september-but-remain-strong-going-into-fall\/","title":{"rendered":"#\n  New home sales dip slightly in September, but remain strong going into fall"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bb95c44581\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bb95c44581\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/new-home-sales-dip-slightly-in-september-but-remain-strong-going-into-fall\/#The_market_for_new_homes_typically_cools_down_in_the_fall_but_sales_are_still_running_well_ahead_of_last_years_pace\" >The market for new homes typically cools down in the fall, but sales are still running well ahead of last year\u2019s pace<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/new-home-sales-dip-slightly-in-september-but-remain-strong-going-into-fall\/#Jacob_Passy\" >Jacob Passy<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  New home sales dip slightly in September, but remain strong going into fall<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"The_market_for_new_homes_typically_cools_down_in_the_fall_but_sales_are_still_running_well_ahead_of_last_years_pace\"><\/span>\n  The market for new homes typically cools down in the fall, but sales are still running well ahead of last year\u2019s pace<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"302A3DDE-1794-11EB-BDCD-BF195D6C4C23\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       <strong>The numbers: <\/strong>Sales of new single-family homes fell in September, but the housing market remains poised to buck seasonal trends nonetheless.<\/p>\n<p> New home sales occurred at a seasonally-adjusted, annual rate of 959,000, the Census Bureau <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.census.gov\/construction\/nrs\/pdf\/newressales.pdf\" class=\"icon none\">reported Monday<\/a>. That represents a 3.5% drop from an downwardly-revised pace of 994,000 homes in August. Compared with last year, new home sales are up 32%.<\/p>\n<div class=\"paywall\">\n       Last month, the government had reported that new-home sales had exceeded an annual rate of 1 million for the first time since 2006. The government uses a small sample size to produce the new-home sales report, which makes it prone to significant revisions like this.<\/p>\n<p>Economists polled by MarketWatch had expected home sales to increase to a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n pace of 1.033 million.<\/p>\n<p><strong>What h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened:<\/strong> New home sales fell a staggering 28.9% in the Northeast, followed by much smaller declines in the Midwest and the South. Comparatively, the West was the only region to experience an increase in sales with a 3.8% jump. <\/p>\n<p>The decline in September aside, year-to-date new home sales are running nearly 17% ahead of the pace set by this time last year.<\/p>\n<p>The median sales price in July was $326,800, up from August\u2019s median price. The inventory of new homes was 284,000, representing a 3.6-month supply at the current pace of sales. A 6-month supply is considered the benchmark for a balanced market.<\/p>\n<p><strong>The big picture: <\/strong>Although most economists anticipated sales to rise in September, that is an incredibly rare occurrence. An analysis of past sales data by Regions Financial Corp. chief economist Richard Moody found that since the government began tracking this data in 1963 new home sales have only increased between August and September on four occasions. <\/p>\n<p>The number of homes sold but not yet started was up in September from the previous month, a sign that builders are struggling to keep pace with the demand for homes. The monthly decline aside,  low mortgage rates continue to fuel demand among buyers. And with the inventory of existing homes for sale dropping to record lows, many buyers will be forced to turn to the market for newly-constructed properties.<\/p>\n<p>By that same token, though, interest rates could come to represent a headwind for the market, Moody said. \u201cDespite the recent strength of sales, affordability is a growing concern, even more so should mortgage interest rates follow yields on longer-term Treasuries higher,\u201d Moody wrote in a research note. <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p><strong>What they\u2019re saying: <\/strong>\u201cLooking ahead, builders are already well-positioned in these very markets to deliver homes featuring today\u2019s top desirable amenities: more space, new kitchens, home offices and gyms, as well as outdoor access. The only challenge for builders is navigating the rising costs of land and building expenses,\u201d said George Ratiu, senior economist at Realtor.com. <\/p>\n<p><strong>Market reaction: <\/strong>The Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"negative\">-1.84%<\/bg-quote><br \/>\n      \u00a0and S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-1.37%<\/bg-quote><br \/>\n      \u00a0were down Monday morning amid a rise in coronavirus cases and concerns regarding the prospects of another stimulus package. <\/p>\n<p>Shares of home-building firms PulteGroup<br \/>\n        PHM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201694804\/composite\" class=\"negative\">-2.16%<\/bg-quote><br \/>\n      \u00a0, LGI Homes<br \/>\n        LGIH,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202461766\/composite\" class=\"negative\">-2.45%<\/bg-quote><br \/>\n      \u00a0, and Lennar Corp.<br \/>\n        LEN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202536373\/composite\" class=\"negative\">-3.20%<\/bg-quote><br \/>\n      \u00a0were down following the release of the new-home sales report.<\/p>\n<div data-layout=\"\n              inline\" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetCommentingPromo\n            \n            inline\n  article__inset\n        article__inset--type-InsetCommentingPromo\n            article__inset--inline\n  \"><\/p><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jacob Passy\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jacob_Passy\"><\/span>Jacob Passy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B302A3DDE-1794-11EB-BDCD-BF195D6C4C23%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# New home sales dip slightly in September, but remain strong going into fall &#8221; The market for new homes typically cools down in the fall, but sales are still running well ahead of last year\u2019s pace The numbers: Sales of new single-family homes fell in September, but the housing market remains poised to buck&#8230;<\/p>\n","protected":false},"author":1,"featured_media":97791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-97790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/97790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=97790"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/97790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/97791"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=97790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=97790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=97790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}