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. 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.

  2. 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.

  3. 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

  4. 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.

  5. 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

  6. 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??

  7. 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

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