Posted in home improvement loans

US new home sales surge to fastest pace since 2006 as housing market shines through pandemic



a car parked in front of a sign: Associated Press


© Associated Press
Associated Press

  • Sales of new US homes accelerated by 4.8% to an annual rate of 1 million units in August, the Census Bureau reported Thursday.
  • That pace is the highest since 2006 and marks four consecutive months of increasing sales.
  • The agency’s estimate of new homes for sale fell to 282,000, reflecting 3.3 months of supply at the current pace of sales. That’s the shortest period in data going back to 1963.
  • Though the housing market has been one of the few bright spots in the virus-rattled economy, some fear dwindling supply will soon halt the sector’s rally.
  • Visit the Business Insider homepage for more stories.

The US housing market extended its winning streak into August as Americans continued taking advantage of record-low mortgage rates.

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Sales of new homes leaped 4.8% to a seasonally adjusted annual rate of 1.01 million units, the Census Bureau announced

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Posted in home improvement loans

Pace of New Home Sales Tops 1 Million for First Time in 14 Years


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The housing market continued to boom in August, as low mortgage rates and pandemic-driven demand pushed new home sales above 1 million for the first time in 14 years.

Sales of new single-family homes rose 4.8% in August from July to a seasonally adjusted annual rate of 1.01 million, the Commerce Department said Thursday. Economists polled by the Wall Street Journal had expected a 0.3% decline to 898,000. August sales were 43% above the year-earlier level.

The new-homes data are volatile and August’s figures came with a margin of error of 10.5 percentage points. July sales were revised up to 965,000 from 901,000 initially.

Based on the current rate of sales, there is a 3.3-month supply of new homes, down from 4 months in July, 4.6 months in June and 5.4 months in May.

“Strong sales have depleted inventories of new homes for sales, which

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Posted in kitchen remodel

Biophilic design to set the pace at Mount Lawley

Perth architecture and property development group Baltinas is preparing for the official launch of its art deco-inspired, wellbeing-focused CHALLIS development on Beaufort Street in Mount Lawley.

The environmentally conscious mixed-use development on the former Highgate Drycleaners site features 26 elegant luxury apartments, including three sub-penthouses, and an already-sold penthouse.

The development, named after the Challis family who ran the drycleaners since the 1950s, comes in a range of one to three-bedroom configurations priced from $595,000.

The mixed-use development brings a touch of glamour to Mount Lawley and expresses a stunning art deco style.
Camera IconThe mixed-use development brings a touch of glamour to Mount Lawley and expresses a stunning art deco style. Credit: Baltinas.

“There is a choice between a light or dark interior colour scheme, and all apartments enjoy ample natural light and expansive tree-lined balconies,” Baltinas Development Sales Rebecca Frost said.

“They also feature unique curved island benches in the kitchens and curved feature walls and windows for showstopper appeal.

“The sub-penthouses boast spacious kitchens

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