U.S. Homes Sales Rebound in March, Beat Analysts’ Estimates

U.S. Homes Sales Rebound in March, Beat Analysts’ Estimates

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New home sales in the U.S. showed signs of a rebound in March 2019. That rebound is coming at a good time because the new home market in the U.S. has been on the verge of a correction.

CONFIDENCE BOOST: U.S. homebuilders are feeling more confident about their sales prospects this month, according to a new survey. The National Association of Home Builders/Wells Fargo housing market index released tuesday has a reading of 62. That’s an increase of four points from last month’s index and the highest reading since October.

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US home prices march higher as bidding wars break out over sparse properties.. (AP) – U.S. home prices rose in April from a year earlier, lifted by bidding wars in many cities where would-be buyers fought over a sparse supply of homes.. Prices rose even as home sales fell and mortgage.

New home sales are volatile and often revised, but the trend has been generally up. December’s number was 9.9% higher than the same period a year ago, and there were 501,000 new homes sold.

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The Fremont, Calif.-based company earned an adjusted $3.70 a share on sales of $2.44 billion in the March quarter. Analysts expected Lam Research earnings of $3.38 a share on sales of $2.4 billion.

 · Nonetheless, clorox beat eps estimates for its most recent fiscal quarter by 7.7%, and it estimates that organic sales are rising by 2% to 4%.

However, the percentage of new homes sales remains well below the pre-recession average of 24%. Figure 6: New Homes Sales as a Percent of Home Sales Sources: National Association of Realtors, and U.S.

Sales of new homes rebounded to the best pace in almost a year and exceeded estimates in February, led by the Midwest, as lower mortgage costs helped buyers afford properties. Single-family home sales rose from the prior month to a 667,000 annualized pace, according to a government report Friday that was delayed by the government shutdown.

 · Retail sales and core retail sales both recorded declines in February, but a rebound is projected for March, with estimates of 0.9% for retail sales and 0.7% for core retail sales.

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