Now for the year to date new home sales for the first half (H1) of 2012.
High Rise: 11,492 sales (down -21% from H1 2011)
Low Rise: 9,293 sales (down -4% from H1 2011)
Total: 20,785 sales (down -14% from H1 2011)
The historical perspective shows us that for high rise sales it was the 2nd best H1 of the last 13 years and the H1 2012 numbers were 38% above the long term average. Low rise sales results for the first half of 2012 are mired at the bottom when compared to the same period over the last 13 years. Low rise sales so far this year are -27% below the long term average.
This ongoing shift in new home sales from low rise product types (detached, semi, row town) to high rise product types (apartment, loft, stacked town) puts H1 2012 total new homes sales about -2% below the long term average for the first 6 months of the year.