New Home Sales Fall 19%: Housing Inventory as High as 2008

Selling Real Estate
NEW report for new single-family home sales in the US (i.e. sales of new home construction): According to the Census Bureau, the number of new single-family home sales (i.e. new homes from homebuilders) in the US was 640k in February 2023 based on the seasonally adjusted annualized rate. This was below the street’s expectations of 650k new home sales. This is fairly flat from last month (+1.1%) but down 19% from February 2022.

Additionally, inventory levels for new homes still remain very high at 436,000. However, inventory (i.e. the number of new homes for sale) has been decreasing for 4 consecutive months.

In today’s video, I take a deep dive into these trends and others that were reported by the US Census Bureau on 3/23/23.

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Jason

To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 6.5% for the current mortgage rates (at the time of filming this video for borrowers with exceptional credit).

➜➜➜ Or, email me if you’re looking to buy or sell a home in the greater Sacramento area (w/n ~30mn drive from Sacramento): jason@meetjasonwalter.com

Compilation of Housing Market Forecast videos:

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Jason Walter, CPA (lic 103885)
Sacramento real estate agent and native
Realty ONE Group Complete (DRE 01923240)
jason@meetjasonwalter.com

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video – it is for entertainment purposes only.

This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent with Realty One Group in California under DRE 01923240.

#homebuilders #housingmarket #newhomes

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