New Home Sales hit 619,000 in April, versus 520,000 Estimate

New home sales hit 619,000 in April, versus 520,000 estimate

New U.S. single-family home sales surged to a more than eight-year high in April and prices hit a record high, offering further evidence of a pick-up in economic growth early in the second quarter. The Commerce Department said on Tuesday new home sales jumped 16.6 percent to a seasonally adjusted annual rate of 619,000 units, … Read more New Home Sales hit 619,000 in April, versus 520,000 Estimate

‘This is a tough market’: Homebuilder Lennar CEO

'This is a tough market': Homebuilder Lennar CEO

The tone was cautious optimism, as executives from the major public homebuilders gathered Tuesday at a conference in New York City, sponsored by JPMorgan. They used the word “moderate” over and over again, in describing the current state of the housing recovery. Demand for new homes is rising, but construction, so far, is well below … Read more ‘This is a tough market’: Homebuilder Lennar CEO

Homebuilder Sentiment Unchanged for 4 Months

Homebuilder sentiment unchanged for 4 months

U.S. homebuilders are feeling positive about the current housing market, but their level of confidence hasn’t moved in four months. A monthly index of sentiment by the National Association of Home Builders (NAHB) registered 58 yet again in May. Fifty is the line between positive and negative sentiment. The index stood at 54 one year … Read more Homebuilder Sentiment Unchanged for 4 Months

How Tech Employees’ Living Costs Compare in Silicon Valley & Seattle

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When many people hear about how much a tech employee in Silicon Valley is making, they might scoff at the high wage. However, an entry level salary for a software engineer in Silicon Valley would still have to put 50% of his or her after-tax income towards housing. That’s just the California housing market. Zillow … Read more How Tech Employees’ Living Costs Compare in Silicon Valley & Seattle