RSS
Home
Home sales bottom appears established
Print
Email
RSS
Subscribe
According to a joint news release published by the US Census bureau and HUD, home sale numbers are improving. Credited for the national drop in inventory are investors buying discounted homes, builder incentives, and first-time homebuyers.
June new home sales are up 11% (over May)
8.8 months of inventory (down) remaining
281,000 homes on the MLS
Additionally, it appears that new home building activity has hit bottom after reaching a record low in April. However, strong increases are unlikely this year given the huge inventory overhang, rising foreclosure rates, a considerable amount of shadow inventory (the units not yet on the market as owners wait for the market to rebound), and sluggish housing demand.
More About:
Home Sales
Related Articles:
Add a Comment
After only one year as the director for the Federal Housing Finance Agency, James Lockhart announced he is stepping down, and plans to return to work …
This is a quote from a recent interview with HUD Secretary Shaun Donovan… “Operate within our standards or we won't do business with …
