NAHB reports on April numbers: New home inventories continue to shrink – NMP Skip to main content

NAHB reports on April numbers: New home inventories continue to shrink

NationalMortgageProfessional.com
May 28, 2009

The number of newly built single-family homes on the market shrank to 297,000 units in April, thinning supplies to their lowest level since May 2001, according to government figures released today. The report noted that the pace of new-home sales held virtually even with the previous month, at a seasonally adjusted annual rate of 352,000 units. “The fact that the new-homes inventory is now below the 300,000 mark shows that builders have made substantial progress in winnowing down their backlogs to a much more comfortable level,” noted Joe Robson, chairman of the National Association of Home Builders (NAHB) and a home builder from Tulsa, Okla. April’s results mark two consecutive years of monthly declines in the number of unsold new homes. “This continued reduction in the new-homes inventory helps bring supply in line with demand, which is an important step toward the market’s recovery. We can expect the pace of new home sales to bounce along the bottom a bit before picking back up towards the end of this quarter,” noted NAHB Chief Economist David Crowe. Sales of newly built, single-family homes recorded a marginal 0.3 percent gain to 352,000 units in April from a downwardly revised pace in March. Meanwhile, the inventory of new homes for sale declined 4.2 percent to 297,000 units, which is a 10.1-month supply at the current sales pace. Regionally, the pace of new home sales was mixed in April. No change was recorded in the Northeast or Midwest, while the South posted a nearly 2 percent increase and the West a 3.8 percent decline. For more information, visit www.nahb.org.
Published
May 28, 2009
Cleveland Cavaliers Partner With Fast For A Streamlined Checkout Service At Rocket Mortgage FieldHouse

Cleveland Cavalier fans can now purchase their favorite team merchandise with the ease of one-click at CavaliersTeamShop.com or while attending games at Rocket Mortgage FieldHouse.

Sales and Marketing
Nov 15, 2021
Finance Of America Reverse Updates Its Brand Assets

Finance of America Reverse announced the launch of its updated brand assets with what the company says, “reflects its modern identity and impactful relationships with customers.”

Reverse
Nov 12, 2021
How To Build Your Purchase Business As Refis Dry Out

There is no better time to start thinking about building your purchase business as the refinance pool begins to run dry.

Community
Nov 08, 2021
Arlo To Launch Mutual Marketing Community Advertising Platform

Arlo, a digital advertiser for the mortgage industry, announce that it is launching a community advertising platform, Mutual Marketing.

Sales and Marketing
Nov 02, 2021
Know What Makes You You

It’s not just what you offer, but who you are that will propel (or impair) your sales.

Sales and Marketing
Oct 25, 2021
Video & You

Show your personality. After all, you are your own brand.

Sales and Marketing
Sep 30, 2021