Here’s why new home sales are up along with prices
We have 61,000 new homes completed for sale, amounting to 1.2 months of the supply, and 298,000 new homes are still under construction.
We have 61,000 new homes completed for sale, amounting to 1.2 months of the supply, and 298,000 new homes are still under construction.
This is the fifth consecutive month of of month-over-month declines, and pending home sales have now fallen in 11 of the last 12 months.
The Housing Market Tracker shows that housing inventory decreased by 6,468 units, a more pronounced decline from the previous week.Â
Last week’s housing market data provided mixed news, but the year-over-year purchase app numbers were the big story.
Lower mortgage rates, higher inventory increase mortgage demand HousingWire
A recent drop in mortgage rates and the uptick in home inventory has led to optimism in the air for the mortgage industry.
In this week’s Housing Market Tracker, Lead Analyst Logan Mohtashami shows how total inventory could break under 1 million.
As mortgage rates come off of their historic lows, mortgage applications dropped for the second week, according to data from the Mortgage Bankers Association.
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