Unsold inventory is at a 3.6-month supply at the current sales pace (3.8 months a year ago). According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased for the sixth straight month to 4.44 percent in March (highest since 4.46 percent in December 2013) from 4.33 percent in February.
Sales of new homes unexpectedly rose in March, climbing to a 16-month high to cap the first quarter with a third straight increase that reflects a boost from lower borrowing costs. Single-family home sales rose 4.5% to a 692,000 annualized pace that topped all estimates in Bloomberg’s survey, while February’s figure was revised down somewhat, government data showed Tuesday.
The median sales price has increased just 1.2 percent over the past year to $311,400 in March. New-home sales jumped last month in the Northeast and West, grew modestly in the South and fell in the Midwest. Residential construction firms have added 112,600 workers over the past year, a 4.2 percent increase.
New Home Sales Fall for Third Straight Month in February. January’s sales pace was revised up to 622,000 units from the previously reported 593,000 units. Economists polled by Reuters had forecast that new home sales, which account for 10 percent of housing market sales, would rise 4.4 percent to a pace of 623,000 units last month.
PrimeLending adds joint venture with Dallas homebuilder So far, the only other large publicly traded homebuilder to announce plans to rebuild the Gulf Coast is KB Home (NYSE: KBH), said Alex Barron, vice president of JMP Securities in San Francisco. In.Gen-X renters have significantly weaker credit profiles than homeowners Gen-X renters have significantly weaker credit profiles than homeowners Generation X is in its prime earning years, but the financial profiles of those renting are distinctly different from those who own a house, according to LendingTree.
More homes on the market offer some relief for buyers who have been facing a stubborn shortage of properties for sale. The trend is most encouraging in markets like Atlanta, where new home. at 4.2.
By Alex Kowalski Sales of previously owned U.S. homes probably rose in March for a third month to reach the highest level since late 2009, further evidence of an improving real-estate market.
Three of the four major regions of the U.S. saw growth last month, contract signings declined 1.2%, making this the 15th straight month of. March Pending Home Sales Regional Breakdown.. 500 New Jersey Ave, NW
Equity-rich properties rise as fewer go underwater The 14.5 million equity rich properties in Q4 2018 represented 25.6% of all properties with a mortgage, down slightly from 25.7% in the previous quarter but up from 25.4% in Q4 2017. Seriously Underwater Properties Rise to 9.1% in Q1. with fewer needing to get out from under financial distress.".
The 12% jump in inventory in April from March made for the third-straight month of seasonally adjusted. "If not for those constraints, existing-home sales easily would be well above the 5.
Americans stepped back from buying new homes in March – the third straight monthly decline – led by a sharp plunge in Western states. New-home sales slipped 1.5% last month to a seasonally adjusted.