{"id":210340,"date":"2025-04-28T08:17:34","date_gmt":"2025-04-28T08:17:34","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/real-estate\/new-residential-sales-and-construction-new-housing-collapse-2-0\/"},"modified":"2025-04-28T08:17:34","modified_gmt":"2025-04-28T08:17:34","slug":"new-residential-sales-and-construction-new-housing-collapse-2-0","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=210340","title":{"rendered":"New Residential Sales and Construction \u2013 New Housing Collapse 2.0"},"content":{"rendered":"


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Today\u2019s release of the New Home Sales Report<\/a> shows that housing is now firmly reflecting the negative effects of the quickly darkening economic conditions and sharply rising mortgage rates with sales of new single family homes plunging to a seasonally adjusted annual rate of 591,000, a decline of 16.6% below the prior month\u2019s rate and 26.9% below the rate seen one year ago.\u00a0<\/p>\n

Further, today the latest release of the New Residential Construction Report<\/a> showed that, single family permits issued, the most leading of indicators for single family homes, declined 4.6% since the prior month and 3.73% below the level seen one year ago clearly indicating that home builders are pulling back on future supply in the face of the a downdraft in current demand. <\/p>\n

The following data visualization (click for dynamic view<\/a>) shows New Home Sales since 2020 with the index value (in blue) on the left axis and the year-over-year change (in red) and month-to-month change (in green) on the right axis.\u00a0 <\/p>\n