Tampa Real Estate Market View – 7/27/2009 – New Home Sales

This morning the economic report on New Home Sales has been released.  As we had anticipated this number rose to 384K  in June,  from a seasonally adjusted of 346K in May.  The consensus estimates were at 352K.

Sales have now risen for  three straight months.  All this being said the median sales price for new homes fell to $206K down 5.8% from the previous month.

In summary what this data shows is that the lower end priced homes are moving.  Tomorrow we will see more specifics on home prices when the S&P/Case-Shiller Home Price Index is released.

Real Estate Market View 6/16/2009: Housing Starts

New Housing Starts and Permits moved forward in May from the lows set in prior months.  Housing starts increased 17.2%  to an annual rate of 523,000 units according to the Commerce Department.  Additionally, New Building Permits rose 4% the largest gain since June of last year.

These are encouraging numbers, inparticular if we can continue to see Building Permits increase over the next few qtrs.  Since Building permits indicate future growth, that will certainly be a positive sign.