Eye On Housing
According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, median single-family lot prices came down in 2019, breaking their relentless climb for the first time since 2013. The 2019 median lot price was $45,000, which amounts to a 9% decline since 2018, when half of the lots were selling at or above $49,500. The West divisions… Read More ›
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that VA-backed sales made up 9.1% of new home sales in the first quarter of 2020, the largest market share since early 2016. In addition, cash sales (4.3%) made up their smallest share since Q3 2009 (3.8%). Mortgages backed by the… Read More ›
Interest rates on conventional mortgages for newly built homes fell again in August 2016 according to data released by the Federal Housing Finance Agency (FHFA), extending the decline to 7 consecutive months. The FHFA data show that the average contract rate on the loans fell from 3.64% to 3.60%, while initial fees and charges went from 1.11% to 1.09%. As… Read More ›