New home sales fall to 5-month low as cheaper mortgage rates fail to revive demand Sales of new houses in May decline 7.8%, median price drops 2.7% June 25, 2019
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New home sales continued to fall in August, pulling the total down 27.1 per cent from the national peak in April 2014, Housing Industry Association figures on Thursday showed. The 2.9 per cent.
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Sales of new U.S. single-family homes fell from near an 11-1/2-year high in April as prices rebounded, but demand for housing remains underpinned by declining mortgage rates and a strengthening.
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The median price of a new home sale a year earlier was $314,400. Regionally, sales in April fell 7.3% in the South, dropped 7.4% in the Midwest, and declined 8.3% in the West. Sales rose 11.5% in the Northeast.
Guarantee fees drop for mortgages in several riskier categories: FHFA A mortgage point is a fee equal to 1 percent of the loan amount. A 30-year, $300,000 mortgage might have a rate of 7 percent but come with a charge of one mortgage point, or $3,000. The more points you pay, the lower the interest rate. Borrowers typically pay up to three or four points, depending on how much they want to lower their rates.
The Commerce Department said on Tuesday new home sales dropped 7.8% to a seasonally adjusted annual rate of 626,000 units last month, the lowest level since December. April. Sales fell 3.7% from a.
The median price of a new home sale a year earlier was $316,700. Regionally, and on a year to date basis, new home sales are 7.5 percent higher in the South and 3.4 percent higher in the West. Sales are down 13.3 percent in the Northeast and 3.2 percent in the Midwest.
Existing-home sales decline for fifth time in six months Sales of previously owned U.S. homes unexpectedly cooled in April, the fifth drop in six months, signaling a rocky start for the housing market this quarter amid a still-tight supply of available.
New home sales represent about 10 percent of the entire housing market, but on the existing home sales front, the numbers don’t look much better. existing home sales also fell in June, for the.
Sales of previously owned U.S. homes declined in April, as inventory shortages and rising prices weigh on the market and higher mortgage rates begin to pose a threat to demand for the first time.
July New Home Sales: The West Sinks New Home Sales In July New home sales fell to an annual rate of 571,000 units in July from June’s revised sales rate of 630,000 units. Months supply of inventory stands at 5.8 months; the median new home sale price rose by 6.3 percent on a year-over-year basis.
Sales of new U.S. single-family homes fell less than expected in April amid a rise in transactions in the South and Northeast, and data for the prior three months was revised lower, suggesting the.