Yesterday the new home numbers were out, and here’s what MarketWatch said:
WASHINGTON (MarketWatch) — Sales of newly built homes in the U.S. fell slightly in August as prices rose a record 11.2%, but demand remained at a two-year high.
Sales of new homes dipped to an annual rate of 373,000 in August from 374,000 in July, the Commerce Department said Wednesday. Yet the pace of sales in July, originally reported as 372,000, was the highest since April 2010.
Economists polled by MarketWatch had forecast new home sales to rise to a seasonally adjusted 380,000.
Although demand for new homes has been on the ascent — sales are up nearly 28% from one year ago — a huge jump in prices may have deterred some buyers last month.
There was a big price jump reported last month, considered as evidence of builder confidence, but there’s other, contrary evidence out in the field. For one, when new home sales are booming, we see little to nothing available in the way of incentives for real estate agents. Granted, this is anecdotal, but this was in L’s inbox yesterday:
It looks like they are hoping agents will start drumming up some business for them to me.