New-Home Sales Are Still Ultrahigh. Properties Are Scarce.

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Only 44,000 homes ready for occupants were on the market at the end of October.


Justin Sullivan/Getty Images

New-home sales remained sky-high in historical terms in October as properties changed hands at a seasonally adjusted annual rate 41.5% above the year-earlier level, according to government data.

Sales slipped 0.3% to an annual rate of 999,000 from a revised September rate of 1,002,000, according to figures the Census Bureau and the Department of Housing and Urban Development released on Wednesday. The consensus call among Wall Street economists was for sales of 972,500.

The last time the October rate exceeded 999,000 was in 2005, before the 2008-2009 financial crisis, according to historical data. Year to date, new home sales are 20.6% higher than last year, according to the data.

Demand for a home has far outstripped supply. While new-home sales are high, the number of homes coming on the market

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U.S. New-Home Sales Remain Elevated in October at 999,000 Pace

(Bloomberg) — New-home sales in the U.S. held up in October, remaining near the best pace since 2006 and well above pre-pandemic levels, the latest sign that record-low mortgage rates are underpinning robust buyer interest.

Purchases of new single-family houses dropped 0.3% from September to a 999,000 annualized pace from an upwardly revised 1.002 million rate, government data showed Wednesday. The median forecast in a Bloomberg survey of economists called for a 975,000 rate. The median selling price rose 2.5% from a year earlier to $330,600.

Follow reaction in real time here on Bloomberg’s TOPLive blog

Recent momentum in housing has been driven by attractive mortgage rates and buyers looking for more space as they work from home. Purchases, however, may face greater headwinds after infections began to soar around the U.S. in recent weeks and new restrictions threatened to curb hiring.



chart: New U.S. home sales fell 0.3% in October from prior month despite record-low rates


© Bloomberg
New U.S. home sales fell 0.3%

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UK housing market expects 100,000 extra home sales in early 2021

More than 100,000 additional house sales are expected during the first three months of 2021, as the rebound in the property market continues and buyers rush to complete their purchases before the end of the stamp duty holiday.



a street sign in front of a building: Photograph: Toby Melville/Reuters


© Provided by The Guardian
Photograph: Toby Melville/Reuters

The number of new sales being agreed remains 38% higher than it was a year ago, according to property website Zoopla. It predicts the housing market will be the busiest before Christmas than it has been for over a decade.

The UK housing market has rebounded since the summer because of pent-up demand following the first UK-wide lockdown, and after the chancellor, Rishi Sunak, decided in July to introduce a stamp duty holiday on properties up to £500,000 until March 2021.

The boom in property sales since the summer has been felt most strongly in London and southern England, where 7% more sales were

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Furniture sales for Black Friday 2020

(CNN) —  

Black Friday isn’t just about buying the latest big screen for your living room, it’s also a great time to pick up those big ticket furniture items you’ve been thinking and talking about all year.

If you’ve been looking to makeover your bedroom, living room or maybe the whole house, these are the sales for you. Below, find our favorite Black Friday furnishing deals organized by retailer, so you can shop for the best deals from home.

Wayfair

The online furniture retail giant is offering deep Black Friday discounts — up to 80% — on big ticket items, including living room seating up to 70% off, bedroom furniture from $79.99, GE appliances up to 40% off, area rugs up to 80% off, bedding up to 80% off and office furniture (WFH setup, anyone?) from $75 through December 4.

Among our favorite pieces is the Mercury Row Imani Velvet 81.5”

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Best Buy Continues Gains From Home Products, Online Sales

Best Buy Co. continued benefiting from online sales and items that help consumers work, learn and cook from home during the coronavirus pandemic, pushing sales up 21% in the latest quarter.

The retailer on Tuesday reported $11.85 billion in third-quarter sales, up from $9.76 billion in the same three months last year and beating Wall Street estimates. Comparable online sales nearly tripled in the U.S., its largest market.

Domestic comparable sales rose 23%, while international comparable sales rose 27%. Comparable sales include those from stores temporarily closed or operating a curbside-only model during the quarter due to Covid-19.

Big-box retailers have generally fared well during the pandemic, enticing shoppers with a one-stop place to shop, especially for in-demand product categories such as electronics, home-improvement supplies and food. In contrast, many department stores and apparel retailers—already weakened by the shift to online shopping in recent years—have struggled after having to close

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Black Friday Cat Tree Deals 2020: Best Cat Tower, Condo & Furniture Sales Compared by Deal Tomato

BOSTON–(BUSINESS WIRE)–Here’s our guide to the best cat tree deals for Black Friday, including savings on cat towers, trees, beds, furniture and more. View the latest deals by clicking the links listed below.

Best Cat Tree Deals:

  • Save up to 48% on a wide range of cat trees & condos at Walmart – find great deals on small to extra large cat trees with condos or scratching post towers
  • Save up to 40% off on an extensive range of cat trees at Amazon – click the link for the latest savings on multi-level cat trees from AmazonBasics, FISH&NAP, and Catry
  • Save up to $30 off on cat trees for top brands like Go Pet Club and Armarkat at Overstock.com – check out the latest deals on an extensive range of activity cat trees & condos
  • Save up to 41% off on cat trees and condos from Frisco, Go
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Make your home cleaner for less with Dyson’s fall sales

(CNN) —  

If you happen to have been spending a lot of time indoors at home lately — either because of the colder weather or, um, you know what — then you’ve probably noticed that your home isn’t quite as spick-and-span as you thought when you were spending most of the day at work, school or out and about. Your allergies are flaring up, and the dust bunnies seem to be propagating like, well, bunnies.

But you can take back your home from the dirt and grime with the help of the best vacuum cleaners in the business. From before Black Friday through Cyber Monday, Dyson — renowned for its elegant design and revolutionary technology that has redefined the word “suction” — will be putting a whole slate of its most popular products on sale, with special prices just for those who buy directly from Dyson.

Why buy directly from

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October existing home sales see ‘spectacular’ 26.6% annual increase

Sales of existing homes in October soared well past expectations, rising 4.3% compared with September and 26.6% annually to a seasonally adjusted annualized rate of 6.85 million units, according to the National Association of Realtors.

The NAR’s chief economist, Lawrence Yun, called the annual increase “a spectacular gain.”

The annualized sales rate is the highest since February 2006. The highest pace ever was in 2005 at 7.1 million units.

The data reflect closed sales representing contracts signed in August and September .

“It’s quite amazing. Even if the home sales were to go down to 6 million, I would be happy,” said Yun. “The surge in sales in recent months has now offset the spring market losses. With news that a COVID-19 vaccine will soon be available, and with mortgage rates projected to hover around 3% in 2021, I expect the market’s growth to continue into 2021.”

Yun forecasts existing

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Existing-home sales soar despite record-low inventory

Despite the pandemic, Americans are putting in offers on homes in droves.


Getty Images

The numbers: Existing-home sales rose for the fifth consecutive month in October, as the housing market finally made up for the pandemic-related downturn in sales this spring.

Total existing-home sales increased 4.3% from September to a seasonally-adjusted annual rate of 6.85 million, the National Association of Realtors reported Thursday. Compared with a year ago, home sales were up roughly 27%. It was the highest level of home sales in 15 years.

“Considering that we remain in a period of stubbornly high unemployment relative to pre-pandemic levels, the housing sector has performed remarkably well this year,” Lawrence Yun, the trade group’s chief economist, said in the report. “The surge in sales in recent months has now offset the spring market losses.”

Economists polled by MarketWatch had projected existing-home sales
to rise to a median rate of 6.5

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Black Friday furniture deals 2020: Best sales at Wayfair, Herman Miller and more

The next two weeks will be filled with Black Friday furniture deals. These deals can save you hundreds on sofas, home decor, and home office furniture. The best part is that almost all major retailers are offering Black Friday furniture deals. 

Amazon, for instance, is taking up to 30% off home furniture including desks, office chairs, mattresses, and media centers. Meanwhile, the annual Herman Miller Holiday Sale has kicked off with 15% off sitewide. The highly anticipated sale slashes the price of Herman Miller’s iconic office chairs and more. 

So whether you’re looking for a new office chair or a new nightstand, we’re rounding up the best Black Friday furniture deals you can get right now. Make sure to follow our Black Friday deals coverage for more holiday sales on tech, appliances, and more. Also, make sure to follow our Black Friday mattress deals coverage for more bedding deals. 

Black

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