We had our Best New Construction Year since 2007 during 2018. Was new construction slowed down this year, so far, by the Government Shutdown? The release economic data regarding new construction and new home sales was delayed due to the the Government Shutdown. We received the January New […]
The Government Shutdown may have slowed the loan approval process, and therefor the home sales process. February to February. Inventory improved, as did the average sales price. Total units sold were held back by a drop in sales in the West Region from last February.
The housing data from the first month or two often set the pace fr the rest of the year. This year, we missed the starting gun because of the Government Shutdown. It is possible that we could receive a larger than expected bounce in the new construction data, the new home sales data, and the existing home sale data. This is a twelve lap race and we are in lap two.
What the recent report of declining household wealth a hiccup or a heart attack? Was it something different? Whereas some economists and pundits are projecting “non-existent” annualized GDP growth of 0.5% for first quarter, it is more likely that we will see between 1.5% and 2.5% annualized growth, and possibly even better han the 2.6% reported during fourth quarter of 2018.
The January New Home Sales average eased back from the January record set last year. This is because more homes sold in the $200,000 to $299,999 price range, and fewer homes sold in the $400,000 to $499,999 and $500,000 to $749,999 price range this January than last January. This pulled the average sales price down.
We had a record Retail Sales month during January after a record retail sales year during 2018. The Government Shutdown appears to have impacted three retail sectors.
The February Jobs Report – A Tale of Two Data Sets (Part 2) The ADP report was released last week to faint praise. The “jobs” number came in at 183,000. Commentators made off-hand remarks that this was down from the January level of 300,000 workers. We hadn’t seen […]