New-home sales slump 7% in April after reaching the best level of the cycle

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Those rising home prices got help from years of very low mortgage rates, which put more expensive homes within reach for people at a given income level. Activity was also probably boosted by some bounce-back effect after the housing market crash of 2007-09, a result of pent-up demand for homes that were not bought while the market was collapsing.

NEW YORK (CNNMoney) — New-home sales rose for a second straight month in April, but sales remain near the lowest levels on record, the government said Tuesday. The Census Bureau reported an.

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Read: New-home sales slump 7% in April after reaching the best level of the cycle Mortgage rates remain low , and together with slowing price growth, will help more people afford more home.

After July’s housing sales data horrors, yesterday’s permits rebound prompted some hope (despite last week’s 9.7% collapse in mortgage applications) but August’s existing home sales just crushed that dream, dropping to one-year lows. Following a 1.3% MoM decline in July, August saw existing home sales tumble 1.7% MoM (against expectations of a 0.2% rebound) and up just 0.2% YoY.

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Manawatu/Wanganui – up 22.7% from 326 sales to 400.. The New Zealand excluding Auckland inventory level fell by 0.5% from 17,061 in April 2017 to 16,975 in April 2018. However, Auckland’s annual inventory increase of 4.1% is the lowest annual increase since October 2016.

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Housing Sector Still Upbeat The only negative piece of housing data for the month was the decline in new home sales. additions downward in April by 37,000. Meanwhile, the unemployment rate was 4.7%.

New home listings grew at the fastest rate since 2013 in February, surging 11.9 percent from last year. Overall inventory fell 3.7 percent year over year, a slower decline than in recent months but a disappointing number for homebuyers hoping for more homes to choose from as the spring selling season approaches.