Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –
New-Home Sales Finally See a Jump This Summer ☘ Hoey Team ☘ eXp Realty Florida
Dated: July 25 2019
New-home sales rebounded in June, but builders warn that affordability concerns persist.
Sales of newly built single-family homes rose 7% last month to a seasonally adjusted annual rate of 646,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. New-home sales for 2019 are 2.2% higher than the same period a year ago.
But while the numbers were positive in the latest new-home sales report, builders are still cautious on whether the increase will last.
“Though there is a clear demand for new homes, builders continue to wrestle with affordability headwinds, including shortages of buildable lots and skilled labor, that are constraining sales,” says Greg Ugalde, chairman of the National Association of Home Builders.
The NAHB projects that new-home sales will see a modest 3.5% growth for 2019 due to ongoing affordability concerns.
In June, the inventory of new homes for sale nationwide was 338,000, representing a 6.3-month supply. The median sales price was $310,400, which essentially matched the median price from a year ago. For comparison, the median price of an existing home sold reached a record high in June of $285,700, according to the National Association of REALTORS®.
Last month, new-home sales surged 19.4% higher in the West and 9.5% in the South. However, sales plunged by 50% in the Northeast and by 17.6% in the Midwest, according to the report.
Article content from Realtor Magazine
Also; please check out the other blogs, and tabs to many other Links, Updates & Reports that we have here on our informational website. ☘
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ brokered by eXp Realty
“Please Share this and our informational website with anyone who you think the info will help.
Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can.
Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials. Thanks, Barry & Kim ☘”
"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....
Latest Blog Posts
A price increase of almost 20% year-to-year is unheard of – until now. Home prices hit record highs in 19 of the 20 cities included in monthly Case-Shiller reports.WASHINGTON (AP) ;
Today’s market isn’t like the boom-bust cycle leading up to the Great Recession: Tough loan standards are the norm, plus many factors have kept housing supply low.MCLEAN, Va. –
Hello,Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good; wherever you are located at this time.Hot off the press