by Calculated Danger on 1/27/2025 10:00:00 AM
The Census Bureau stories New Residence Gross sales in December had been at a seasonally adjusted annual charge (SAAR) of 698 thousand.
The earlier three months had been revised down barely, mixed.
Gross sales of latest single-family homes in December 2024 had been at a seasonally adjusted annual charge of 698,000, in response to estimates launched collectively in the present day by the U.S. Census Bureau and the Division of Housing and City Improvement. That is 3.6 p.c above the revised November charge of 674,000 and is 6.7 p.c above the December 2023 estimate of 654,000.
An estimated 683,000 new houses had been bought in 2024. That is 2.5 p.c above the 2023 determine of
666,000.
emphasis added
Click on on graph for bigger picture.
The primary graph reveals New Residence Gross sales vs. recessions since 1963. The dashed line is the present gross sales charge.
New house gross sales had been at pre-pandemic ranges.
The second graph reveals New Residence Months of Provide.
The months of provide decreased in December to eight.5 months from 8.7 months in November.
The all-time report excessive was 12.2 months of provide in January 2009. The all-time report low was 3.3 months in August 2020.
That is properly above the highest of the conventional vary (about 4 to six months of provide is regular).
“The seasonally-adjusted estimate of new houses for sale at the end of December was 494,000. This represents a supply of 8.5 months at the current sales rate. “
Gross sales had been above expectations of 670 thousand SAAR, nevertheless gross sales for the three earlier months had been revised down, mixed. I am going to have extra later in the present day.
