Everywhere you look, people are saying that housing is recovering. But exactly what is a housing recovery? Think about it… does a housing recovery mean a return to peak bubble home prices? Or peak number of existing home sales? Or peak new home sales? Or contribution to GDP? Does it even mean a return to [...]
Over Thanksgiving, I spent some time with a buddy of mine who works closely with a number of large homebuilders operating in the Central Valley. He’s seen a huge change over the last six months of builders ramping up production. He’s seen builders buying hundreds of finished lots (ready to build) for well over $100,000 [...]
Campers in tents officially confirmed at Shapell Homes in San Ramon’s Gale Ranch. There are expected to be between five and eight lots released this weekend. Crazy.
Yes, new home sales were up in September, but overall numbers are still pretty dismal. From Tim Iacono: The Commerce Department reported(.pdf) that new home sales jumped 5.7 percent last month to their highest level since April of 2010, up from an annual rate of 368,000 in August to 389,000 in September, as the U.S. housing market [...]
The weakest ever, in fact. Homebuilders have cut back so deeply that there are now the fewest new homes for sale ever recorded. From the Federal Reserve:
April new home sales rose 7.3 percent from March, but are still 23.1 percent below April of 2010.
New home sales rose 11.1 percent from February to March, to a pace of 300,000 units per year. However, this is far below the March 2010 pace of 384,000.