New Home Sales In April Dropped Due To Low Inventory

april home sales

The cost of owning a brand new home is falling. Be that as it may, in spite of the fact that buyers are edgy for whatever homes they can afford, new-home sales were in reality down in April, on the grounds that there were less of them available—a number far shy of meeting the demand by home buyers. Prospective homeowners gathered up only 569,000 brand new homes April—a 11.4% drop from the earlier month, as indicated by a joint report by the U.S. Census Bureau and U.S. Department of Housing and Urban Development. What’s…

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Sales Of New Homes Increased Despite Rising Mortgage Rates

new home sales

Americans reacted to higher home loan rates by snapping up new homes in February at the quickest pace since July. New home sales increased 6.1 percent month-over-month to an occasionally balanced yearly rate of 592,000, according to the Commerce Department. That sales pace is almost 13 percent higher than February of a year ago, a favorable indication for the housing market that demand is strong towards the beginning of the spring home buying season. An improved job growth and a recovering economy have pushed up enthusiasm for new homes, while the possibility of rising home loan rates since the November presidential race may…

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Pending Home Sales Down After Consecutive Gains

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The National Association of Realtors Pending Home Sales Index tracks the number of contracts to buy homes signed each month. The Index’s focus on signings, not closings, means it is often a good indicator of future home sales. In May, the Index fell 3.7 percent. It was the first monthly decline after three consecutive months of increases. It was also the first time in two years that results dropped below year-before levels. But despite the seemingly bad news, May’s reading was still the third highest in the past year. Lawrence…

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Sales of New Homes Fell In May

new-homes

Sales for new homes fell in May, according to new numbers released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. After soaring to an 8-year high the month before, sales dropped lower than economists expected, falling 6 percent from April. But despite the decline, sales remain 8.7 percent above last year’s level. Regionally speaking, the report showed significant differences between sales in some parts of the country compared to others. For example, new home sales tumbled 33 percent in the Northeast, while gaining 12.9 percent…

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