New Car Sales at Record High/New Home Sales Near Record Low

By
Services for Real Estate Pros with Smaulgld LLC

Earlier this year in “New Home Sales vs New Car Sales,” we noted that new car sales were robust while new home sales were stagnant. The most recent data regarding new car and home sales indicate that dynamic remains the same.

New car sales were up 13.6% in October year over year and are approaching an annual record, while new home sales were down 11.5% in September and are at near all time lows.

Poor new home sales reflect the general state of the economy far better than the “robust” new car sales.

Here is why:

 

 

New home sales chart US. Bureau of the Census, New One Family Homes For Sale in the United States [HNFSEPUSSA], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/HNFSEPUSSA/, November 3, 2015.

 

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Rainmaker
808,925
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Interesting, I just read this.  We need to flip these numbers!  People can't live in their cars.....

Nov 03, 2015 07:54 PM #1
Ambassador
2,305,947
1~Judi Barrett
Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Hmmm... interesting statistics.  Easier to finance a new car than a new home?

Nov 03, 2015 08:23 PM #2
Rainmaker
139,058
Louis Cammarosano
Smaulgld LLC - Hampton, NH
Smaulgld

Cindy-it seems the low interest rates really haven't helped housing other than boosting prices, we need sales volume and that can only come if people have better jobs and wages and home prices are lower!

Instead people are blowing their money on new cars and can't save for a new home.

Nov 03, 2015 09:09 PM #3
Rainmaker
139,058
Louis Cammarosano
Smaulgld LLC - Hampton, NH
Smaulgld

Judi

Financing a new car is simple. Indeed 14% of those that get car loans have NO credit score at all! Imagine that for housing

Nov 03, 2015 09:10 PM #4
Rainmaker
139,058
Louis Cammarosano
Smaulgld LLC - Hampton, NH
Smaulgld

new home salesNew home sales chart US. Bureau of the Census, New One Family Homes For Sale in the United States [HNFSEPUSSA], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/HNFSEPUSSA/, November 3, 2015.

Nov 03, 2015 09:22 PM #5
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