Sales of new U.S. homes plummeted in March, as the spring buying season opened with sharp declines in the Northeast and South. Sales of new U.S. homes plummeted in March, as the spring buying.
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U.S. stock benchmarks. the inventory-to-sales ratio was much lower at 1.26. Shares of ANGI were down 27%, those for Match.
Given the current supply-and-demand situation, it appears likely that home prices in most U.S. cities will continue to rise throughout 2019. This would be the continuation of an ongoing trend, rather than a new development. According to Zillow, the median home price in the U.S.
Regionally, new-home sales were down across the board. Sales fell 61.8 percent in the Northeast, 8.3 percent in the Midwest, 8.7 percent in the South and 6.7 percent in the West. The inventory of new homes for sale was 225,000 units in September. This is a 5.8-month supply at the current sales pace.
Existing home sales declined 3.9% in November compared to October, and plummeted 13.4% from a year ago, according to the California Association of Realtors. Statewide home sales have dropped for seven consecutive months compared to a year ago. Home sales also fell below the annual 400,000 mark for the fourth straight month.
Williams-Sonoma, Inc. WSM was a big mover last session, as the company saw its shares rise more than 13% on the day. The move came on solid volume too with far more shares changing hands than in a.
The number of finished new homes, overall, hit just over 1.2 million homes in March, according to the report. That’s up 3.2% from February and 13.4% over the same time last year.
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It was another disappointing month for new home sales, but due entirely to a sharp decline in those sales in the West. The U.S. Census Bureau and the Department of Housing and Urban Development said.