Tag Archive for ‘new home prices’

New Home Sales Price History

The price distribution of new home sales has changed markedly over the last ten years. Indeed, new home prices have increased, due to market shifts and higher regulatory costs. The following analysis uses data from the Quarterly Sales by Price and Financing reported by the U.S. Census Bureau. As shown in the following graph, the number of new homes sold… Read More ›

Effective Rate on New Home Loans Dips to 4.02 Percent

After two months of near perfect stability, interest rates on conventional mortgages for newly built homes declined noticeably in October, according to data released this week by the Federal Housing Finance Agency (FHFA).  The FHFA data show the average contract rate on the loans dropping from 3.98 to 3.92 percent, while average initial fees and charges went from 1.16 to… Read More ›

New Home Mortgages: Rates Change Little, Loan Size Surges

Data released today by the Federal Housing Finance Agency (FHFA) show that interest rates on mortgages for new homes declined in September, but the changes were very small.  The average contract rate on conventional loans used to purchase newly built single-family homes edged down by two basis points, from an even 4.00 to 3.98 percent—a decline too small to see on the chart… Read More ›

Rates on New Home Loans Hit 2015 High

On average, the contract rate on conventional mortgages used to purchase newly-built homes increased 12 basis points in July, to 3.98 percent, according to data released yesterday by the Federal Housing Finance Agency (FHFA).  At 3.98, this is the highest the contract rate has been since December of last year. Initial fees have some ability to offset increases in a… Read More ›

New Home Loans: Rates and House Prices Both Increase

Interest rates on conventional mortgages used to buy newly built homes increased in June, according to data released earlier today by the Federal Housing Finance Agency (FHFA).  The data show the average contract interest rate increasing by 9 basis points to 3.86 percent, the highest it’s been since January. The average initial fees and charges on the loans decreased by… Read More ›

Housing Prices – Slowing to Sustainable Growth

The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released their respective home price indices for April. House prices have been recovering since reaching the bottom of the downturn in 2012. Both the new and existing single-family homes’ median sale prices are presented along with the home price index. All three indicators tell a similar story of rapid… Read More ›

NAHB Releases New “Priced Out” Numbers

NAHB Economics recently released its 2014 Priced Out Estimates showing that, nationally, a $1,000 increase in the median new home price (triggered, for example, by additional regulation) prices 206,269 households out of the market for the home. This means that 206,269 U.S. households could qualify for a mortgage on the median-priced new home before, but not after, the price increase…. Read More ›

New Home Prices by Metro Area and State

In response to frequent requests from its members, NAHB Economics recently released its estimates of new single-family home prices by state and metro area. The most expensive new single family homes are built and sold in three Northeastern states: Connecticut, Massachusetts and New York – with their respective median new single-family home prices of $491,425, $432,724 and $411,169. District of… Read More ›