Wednesday, April 26, 2006

New Home Sales for March

The US Census Bureau reported new home sales for March.

Sales of new one-family houses in March 2006 were at a seasonally adjusted annual rate of 1,213,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 13.8 percent (±14.9%)* above the revised February rate of 1,066,000, but is 7.2 percent (±12.8%)* below the March 2005 estimate of 1,307,000.

The median sales price of new houses sold in March 2006 was $224,200; the average sales price was $279,100. The seasonally adjusted estimate of new houses for sale at the end of March was 555,000. This represents a supply of 5.5 months at the current sales rate.

Check out The Housing Bubble Blog and Calculated Risk Post I and Calculated Risk Post II.

3 comments:

  1. The FED will have to keep raising rates- and Janet Yellen will have to go back into her hole-
    this deceptively strong report will add more sauce to the goose in the long run-into 2007 and beyond.
    The amount of debt and borrowing is reaching catastrophic proportions. The economy is overheating now- rates where kept too low for a long period of time- and the 'wimpy' quarter point increases where simply not enough. As I have said here before, actual rates are near zero still, and the FED is still increasing money supply at a huge rate- when this thing really implodes, look out. More then blood in the streets.

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  2. I thank Congressman Ron Paul for being the only member of congress, that I know of, who actually proposed legislation to force the Fed to continue monitoring and reporting M3.

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