Pace of new-home sales suggests steady housing strength

Pace of new-home sales suggests steady housing strength

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How an Average Family in Tokyo Can Buy a New Home The rebound after December’s plunge fueled optimism among economists that new-home sales will improve. these pressures and increase sales. Given the underlying strength in overall housing demand,

It’s a statistic that suggests housing market weakness. However, in looking at a different component of the New Home Sales report – the supply of homes for sale – we’re forced to reconsider. At the current pace of sales, every new home for sale nationwide would be "sold" in a matter of 6.1 months.

Mortgage rates remain steady The increase in new home sales and mortgage activity comes just after reports that mortgage rates have remained around low levels last seen in November. Freddie Mac recently revealed that mortgage rates for a 30-year fixed-rate mortgage average 4.28 percent during the week ending Feb. 13.

"New-home sales in August effectively tied the pace they set in the previous month, when they were the strongest we’ve seen in more than two years — so this is really a continuation of the good news we’ve been getting on the housing front," said Barry Rutenberg, chairman . . .

The rebound after December’s plunge fueled optimism among economists that new-home. sales. Analysts see the possibility for new construction to ease these pressures and increase sales. "Given the.

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"California’s housing market continued its strong sales rebound this year, resulting from the continued pace of distressed properties coming to market," said C.A.R. President James Liptak. "This follows two years of double-digit sales declines in 2006 and 2007. Looking ahead, we expect sales to moderate to a more sustainable pace."

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(AP) WASHINGTON – U.S. builders started work on more homes in August, driven by the fastest pace of single-family home construction in more than two years. The increase suggests the new-home market is.

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Home prices rose to a new median all time high of $611,190 which is which is. Zillow says May median prices came in at $547,700, and they forecast home prices will rise. And if there were more affordable properties available, the real estate market. It could grow at a 2.55% pace in the next six months – faster than the.

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