Currently Reading

New-Home Sales Begin to Dip in September

New-Home Sales

New-Home Sales Begin to Dip in September

October 26, 2020
Man holding home figurine in one hand while using calculator to calculate home mortgage with the other hand
Photo: nopparat

The growth rate of newly built single-family homes has begun to slow. According to the National Association of Home Builders, the 3.5% month-over-month sales drop is a necessity. The growth rate remains strong, the association says, and the historic margin of new home sales exceeding construction desperately needed some sort of sales slowdown. September sales rates remained 32% higher than one year ago. Housing demand remains strong as mortgage rates stay low, says NAHB.

Looking back to the spring, the April data (570,000 annualized pace) marks the low point of sales for the current recession. The April rate was 26% lower than the prior peak, pre-recession rate set in January. Sales have mounted a historic growth rate since that time.

Sales-adjusted inventory levels marked a third consecutive month below a 4 months’ supply, coming in at 3.6 in September. The count of completed, ready-to-occupy new homes is just 48,000 homes nationwide.

Read More

Related Stories

New-Home Sales

Advance New Home Purchasing Surges to 15-Year High

The number of new-construction homes purchased in October that had yet to begin construction hit a 15-year high, making up 38.5% of total new-…

New-Home Sales

New-Home Inventory at Three-Year Low as Sales Outpace Construction

The historic margin of new-home sales versus construction starts from the end of summer are continuing to affect overall new-home inventories. The…

New-Home Sales

New Home Sales Flatten from September to October

Sales of newly built single-family homes slipped slightly in October, but remains at a strong year-over-year high, says the National Association…


More in Category


Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.