The Week Ahead Wishful Thinking for New Home Sales

first_img in Daily Dose, Data, Government, Headlines, News It’s no secret that inventory is on the scarce side in the housing market, which is causing a domino effect of issues for homebuyers trying to purchase a home. The mortgage industry is now anticipating where new single-family home sales will fall, following existing-home sales major feat against supply challenges last week.New single-family home sales and the median home price began the year on weak note in terms of the monthly changes, but there were some optimistic signs behind the data.According to data estimates from the U.S. Census Bureau and HUD, new single-family home sales in January 2016 were at a seasonally adjusted annual rate of 494,000, down 9.2 percent from the revised December rate of 544,000 and 5.2 percent below the January 2015 estimate of 521,000.The decline in the median home price “is not because of widespread discounting but rather a result of builders offering more affordably priced entry-level homes,” said Chief Economist, Jonathan Smoke.Here is the lineup for the week:Monday, April 25, 2016 U.S. Census Bureau & HUD New Single-Family Home Sales10:00 A.M. (EST)Tuesday, April 26, 2016Federal Open Market Committee (FOMC) Meeting BeginsS&P Case-Shiller Home Price Index (HPI)9:00 A.M. (EST)Wednesday, April 27, 2016National Association of Realtors Pending Home Sales Index10:00 A.M. (EST)FOMC Meeting Announcement2:00 P.M. (EST)Ocwen Financial’s First Quarter EarningsThursday, April 21, 2016U.S. Bureua of Labor Satistics GDP8:30 A.M. (EST) The Week Ahead: Wishful Thinking for New Home Sales April 24, 2016 480 Views center_img Census Bureau New Home Sales Single-Family 2016-04-24 Staff Writer Sharelast_img