2023-06-28 08:27:51
Sales of new homes in the United States registered a growth of 12.2% in May compared to the previous month and 20% above the figure for the same month last year, up to an annualized figure of 763,000 houses. This is the highest since February 2022.
According to data published by the Commerce Department’s statistical office, the median price of new homes stood at $416,300 (381,665 euros) in May, 7.6% less than a year earlier, while the average price was 487,300 dollars (446,758 euros), 6.5% less.
On its side, in seasonally adjusted figures, the number of new homes for sale at the end of May was 428,000 units, which would be enough to cover the demand for 6.7 months at the current rate of sales.
In addition to the sales of new houses, another figure that improves is the number of houses started and finished in the first world power.
According to the Department of Housing and Urban Development, in May the annualized volume reached 1.63 million units, which represents an increase of 21.7% compared to the previous month and 5.7% more than a year earlier, as well as the best figure in 13 months. on your side, the number of homes completed in May added an annualized total of 1,518 million, 9.5% more than in April and 5% more than in May 2022.
What is also recording increases is the house prices, which have become more expensive by 1.6% since their minimum in Januaryand homebuilder stock prices have performed twice as well as the broader stock market.
And that the economists expected a bloodbath in the price of housing in the US market. In March 2022, when the Federal Reserve began raising interest rates to combat resurgent inflation, the median home value was 41% higher than it was five years earlier. Prices had rebounded from the 2007-09 financial crisis, then spiked during the covid-19 pandemic. Since then, official central bank interest rates have risen by more than three percentage points on average around the world, making mortgages more expensive and slowing the economy.
Currently, the price of money is in the 5%-5.25% range, after the Federal Reserve halted its restrictive monetary policy at its meeting on June 14, although it does not rule out resuming increases in rates in the remainder of the year.
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