The turnover of newly built houses in August in August rose by 20.5% compared to the highest level since January 2022, according to the US people's census. It is also the largest one -month profit since August 2022. The turnover was 15.4% higher than in August 2024.
This count is based on people who shop and sign offers in August if the average interest rate for the 30-year-old permanent mortgage was higher than today. According to Mortgage News Daily, this interest rate began 6.63%and did not really move much during the month.
The severe decline in interest rates began in September, when the day before the Federal Reserve drops, its credit rate fell to a low of three years of 6.13%, and then higher to 6.37%.
In view of the tariffs that had not yet decreased, it is strange that the sale in August is so high. Part of the answer can be in the survey itself.
“We were expecting a win, but not so big,” said Robert Dietz, chief economist at the National Association of Home Builders. “It is always important to remember that the error rate for new home sales is large. We have to wait for revisions next month and show the data in September whether this is smoothed.”
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The analyst Ivy Zelman from Zelman & Associates said the number was “directional law, but the order of magnitude was far too high”.
Zelman carries out her own survey, which has a higher sample size of 15% of the home builders and showed an increase in sales of 6% compared to the previous year.
While the builders spoke a lot about the lowering of prices and incentives, the average price of a new house in August was $ 413,500, which rose by 1.9% compared to the previous year. In a separate survey on the builder's mood of the National Association of Home Builders, 39% of the builders stated in September, compared to 37% in August and the highest percentage in the period after the covise.
The new turnover with homes was strongest in the northeast, where the overall construction of the new building is low, so that the fluctuations can be large. It was also strong in the south where housing construction is the most. The turnover was higher, but the weakest in the west, where the prices are highest.
“While I smooth a volatile figure and always best every month, I have to believe that the increased level of incentives for house builders was the main catalyst for the big upward trend surprise for sales with new states,” wrote Peter Bockvar, Chief Investment Officer from One Point BfG Wealth Partner. “And of course we will see the effects of lower mortgage interests when the September appears, but remember when the mortgage lenses continue to sink … reduce the builders the pace at which they implement incentives and possibly compensate for the benefits of lower mortgage interests for new houses.”
The strong turnover rose in August in August to an offer of 7.4 months compared to a nine -month offer in July, a decline of almost 18%. Single -family houses and permission were slowed down in August both from July and from August last year. This seems to indicate that the builders expected slower sales.