New Single Family Home Sales Jump in March
New Single Family Home Sales Jump in March
New Single Family Home Sales Jump in March
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April 25, 2011 (Jeff Alan)
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Sales of new single family residential homes jumped in March according to the latest report released jointly by the Census Bureau and the Department of Housing and Urban Development (HUD). Data from the report shows that new single family homes sold at a seasonally adjusted rate of 300,000, which is an increase of 11.1 percent from February’s revised total of 270,000.

However, sales remain far below March of 2010 when an estimated 384,000 new single family homes were sold.

Home builders have been suffering record low new home sales as the price gap between existing homes, pressured by the flow of distressed properties hitting the market, and new homes has widened, weakening demand for new homes.

Unfortunately, home prices continued to slump as the median sales price of a new home sold in March was $213,000, while the average sales price was $246,000. In February the median sales prices was slightly lower at $207,700, however, the average sales price was higher at $256,600. In March of 2010, the median price was $224,800 and the average price was $262,900.

The largest gains in sales were seen in the Northeast where 30,000 sales were recorded in March compared to 18,000 sales in February, a 67 percent gain in sales. However, the low sales in February are attributed to the severe winter weather that the region experienced during the month.

All four regions experienced sales increases from February to March with the exception of the South, which had a slight decrease from 163,000 new home sales in February to 162,000 in March.

New home inventory continued to be at record lows not seen in over 40 years, as only a seasonally adjusted estimated 182,000 new homes were for sale at the end of March, virtually unchanged from February and 45,000 less than a year ago. At current sales rates, that represents a 7.3 month supply of new homes.

Tags: single family homes, new homes, HUD, Census Bureau, home builders, median price, average home price, home inventory, distressed properties

Source:
Census Bureau
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April 25, 2011 (Jeff Alan)
mortgage-newhome-image
Sales of new single family residential homes jumped in March according to the latest report released jointly by the Census Bureau and the Department of Housing and Urban Development (HUD). Data from the report shows that new single family homes sold at a seasonally adjusted rate of 300,000, which is an increase of 11.1 percent from February’s revised total of 270,000.

However, sales remain far below March of 2010 when an estimated 384,000 new single family homes were sold.

Home builders have been suffering record low new home sales as the price gap between existing homes, pressured by the flow of distressed properties hitting the market, and new homes has widened, weakening demand for new homes.

Unfortunately, home prices continued to slump as the median sales price of a new home sold in March was $213,000, while the average sales price was $246,000. In February the median sales prices was slightly lower at $207,700, however, the average sales price was higher at $256,600. In March of 2010, the median price was $224,800 and the average price was $262,900.

The largest gains in sales were seen in the Northeast where 30,000 sales were recorded in March compared to 18,000 sales in February, a 67 percent gain in sales. However, the low sales in February are attributed to the severe winter weather that the region experienced during the month.

All four regions experienced sales increases from February to March with the exception of the South, which had a slight decrease from 163,000 new home sales in February to 162,000 in March.

New home inventory continued to be at record lows not seen in over 40 years, as only a seasonally adjusted estimated 182,000 new homes were for sale at the end of March, virtually unchanged from February and 45,000 less than a year ago. At current sales rates, that represents a 7.3 month supply of new homes.

Tags: single family homes, new homes, HUD, Census Bureau, home builders, median price, average home price, home inventory, distressed properties

Source:
Census Bureau
rerockstar (image)

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

April 25, 2011 (Jeff Alan)
mortgage-newhome-image
Sales of new single family residential homes jumped in March according to the latest report released jointly by the Census Bureau and the Department of Housing and Urban Development (HUD). Data from the report shows that new single family homes sold at a seasonally adjusted rate of 300,000, which is an increase of 11.1 percent from February’s revised total of 270,000.

However, sales remain far below March of 2010 when an estimated 384,000 new single family homes were sold.

Home builders have been suffering record low new home sales as the price gap between existing homes, pressured by the flow of distressed properties hitting the market, and new homes has widened, weakening demand for new homes.

Unfortunately, home prices continued to slump as the median sales price of a new home sold in March was $213,000, while the average sales price was $246,000. In February the median sales prices was slightly lower at $207,700, however, the average sales price was higher at $256,600. In March of 2010, the median price was $224,800 and the average price was $262,900.

The largest gains in sales were seen in the Northeast where 30,000 sales were recorded in March compared to 18,000 sales in February, a 67 percent gain in sales. However, the low sales in February are attributed to the severe winter weather that the region experienced during the month.

All four regions experienced sales increases from February to March with the exception of the South, which had a slight decrease from 163,000 new home sales in February to 162,000 in March.

New home inventory continued to be at record lows not seen in over 40 years, as only a seasonally adjusted estimated 182,000 new homes were for sale at the end of March, virtually unchanged from February and 45,000 less than a year ago. At current sales rates, that represents a 7.3 month supply of new homes.

Tags: single family homes, new homes, HUD, Census Bureau, home builders, median price, average home price, home inventory, distressed properties

Source:
Census Bureau
rerockstar (image)

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.