The latest Federal Reserve Z.1 Financial Accounts of the United States, i.e., the “Flow of Funds”, show that in the second quarter of 2021 the aggregate market value of all owner-occupied real estate in the United States registered the largest quarterly increase in the last 21 years of data. From $33.8 trillion in the first quarter of 2021, real estate… Read More ›
Strong demand, low interest rates and fewer existing homes for sale helped contribute to an uptick in new home sales in August even as home prices continue to rise. Sales of newly built, single-family homes in August rose 1.5% to a 740,000 seasonally adjusted annual rate from an upwardly revised reading in July, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
After a prior cooling trend for the volume of new home sales, sales contracts increased 1.5% in August according to estimates from the Census Bureau and HUD. The August seasonally adjusted annual rate (740,000) was 24% lower than a year ago, when an unsustainable rebound took hold in the market. Higher prices have also affected housing affordability, with new home… Read More ›
