New Home sales collapse. New numbers out. The Real Estate market is turning



New Home sales collapse. New numbers out. The Real Estate market is turning.
After existing-home sales printed a very modest rebound from lowered numbers, analysts expect new home sales to rebound from 12-month lows in June (even as homebuilder confidence sinks to an 11-month low), but boy oh boy were they wrong.

Against expectations of a 3.7% MoM jump, new home sales plunged 6.6% MoM in June (and worse still May was revised lower from -5.9% to -7.8%)

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42 comments

  1. Kirkland, WA Housing Prices Crater 24% As Soaring Mortgage Defaults Sends Seattle Housing Prices Tumbling

  2. What real estate market?? The N.E.S.R.A. National Economic Security Restoration Act has secretly passed. Updated by Obama during his administration the N.E.S.R.A was originally proposed as an Economic fallout provision. The Federal government has seized control of all land. Title companies no longer have titles. I found out about the title seizure when a friends relative passed and the title company admitted the government took all titles.

  3. It’s not trashing. Just making the application process annoying so they can buy homes with printed money.

  4. I feel bad for my American neighbors, if only you could figure out the Canadian way, our houses never will crash. 850k$ for almost anything, prices are up 30% YOY, lots of new vehicles, trailers, toys and tits for the wife.

  5. New Home sales are down for 2 reasons,
    1) There is no new home inventory.
    2) Material costs have dragged down New Home construction
    Real Estate market is turning? Beats me

  6. Redmond, WA Housing Prices Crater 17% As Seattle Subprime Mortgage Meltdown Accelerates

  7. Sacramento, CA Housing Prices Crater 18% As State Speeds On Collision Course With Default

  8. I wouldn't expect a real estate agent to acknowledge the housing turnaround; they're trying to make money off of this bubble. They don't want the gravy train to end, but it will!

  9. took a long time for people to wake up to the giant scam….no home sales and zillow still inflating each and every day

  10. A collapse may be on the horizon….but in Colorado Springs homes are selling for up to 100k over asking price and 8 days on the market.

  11. Doesn't matter if prices drop they just raise the interest rates witch in turn makes it the same shit

  12. Florida 2006 Bought a new house for $350,000. 2007 exact house across the street sold for $750,000. 2012 Short sold house for $225,000. 2019 exact house now worth $375,000. It can happen again. This happened to thousands of homes.

  13. Home sales are down because Home prices have nearly doubled.
    I live in Rural Alabama. 5 years ago they built 6 houses across the street from me.
    They had 4 lots left after building the 6 houses. January of 2020 they put those 4 lots up for sale $20,000 for a half-acre lot. 5 years ago they had the lots listed at $7,000 per lot.
    They couldn't sell the lots so they built houses on them. The same size house was built the same way the other 6 houses were built. 3br, 2 baths, 1500-1600 sq-ft full brick on a slab. 5 years ago the 6 houses sold for @$180K know the asking price on the 4 new houses is $289K

  14. Lol, builders have sold so far in advance they have constrained sales themselves. It's not a demand issue it's a supply issue.

  15. Thanks to grandpa Joe everything reeks inflation, good thing is people are getting to know cash/fiat is pretty much stone age at this point, it is designated to fail eventually, 3 BEST and surprisingly easy ways to double or hold your funds in 2021; Real Estate, Gold, Who can guess the 3rd??

  16. I’m from Minnesota and that tool agent might not see what’s coming because MN average homes price rocketed 30 to 50 percent since last 3 or 4 years it’s sickening

  17. I agree 100%. Most good agents who have been around a few of these cycles will tell you RE is quite frothy these days.

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