New home sales represent a relatively small percentage of total home sales but are still an important component of housing market health. After all, when new homes are selling, builders are more likely to build more homes, which results in additional supply, stable prices, and better overall conditions for home buyers. That’s why the latest numbers from the U.S. Census Bureau and the Department of Housing and Urban Development could be a positive sign. In March, new home sales increased 7.4 percent from the month … [Read more...]

Home sellers are seeing a smaller profit than they were last year but continue to do well, according to ATTOM Data Solutions’ 2025 U.S. Home Sales Report. The report found homeowners made, on average, a 50.2 percent profit selling single-family homes and condos during the first quarter of this year. The median raw profit was $119,000. Rob Barber, ATTOM’s CEO, says those are strong numbers by historical standards. “Sellers may not be enjoying quite the same windfall they were a few years ago but by historical … [Read more...]

Sales of previously owned homes fell in March, according to new numbers from the National Association of Realtors. The group found sales down 5.9 percent from the month before and 2.4 percent lower than last year at the same time. Lawrence Yun, NAR’s chief economist, says the housing market remains strong despite a sluggish March. “In a stark contrast to the stock and bond markets, household wealth in residential real estate continues to reach new heights,” he continued. “With mortgage delinquencies at … [Read more...]

The housing market’s affordability issues are mainly a supply problem. Fewer homes for sale have pushed prices higher for the ones that are available. It’s simple math and the solution is more homes. The National Association of Realtors’ consumer website recently took that equation and applied it to each of the 50 states. The resulting Housing Report Card is a state-by-state breakdown of which states are most affordable and best situated to build enough homes to meet future demand. The grades show the South and … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates increased to their highest level in two months last week. Rates were up across most loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increase led to slower application activity, with refinance demand down 20 percent week-over-week and purchase demand down 7 percent. Joel Kan, MBA’s vice … [Read more...]

The home buying process involves a lot of compromise. After all, you’re unlikely to find a house that has every one of the features and amenities on your wish list unless you have one built to your exact specifications. That means you’re going to have to be flexible and you may even have to rethink your priorities once or twice along the way. It seems millennial buyers have already figured this out. According to a new survey from the National Association of Home Builders, millennial home buyers are looking for the … [Read more...]

The U.S. Census Bureau and the Department of Housing and Urban Development’s most recent residential construction report shows the number of single-family homes that began construction in March was 14.2 percent lower than the month before. The decline, mostly due to economic uncertainty amid rising material costs, brought starts to their lowest level since last summer. But while the number of houses that began construction was down from the month before, the number of single-family homes that were completed rose 1 … [Read more...]

If you’re buying a house and haven’t thought about property tax, you should. It can add hundreds of dollars to your monthly household expenses and, according to one new study, it’s rising. ATTOM Data Solutions released its 2024 property tax analysis for 85.7 million single-family homes across the country and it shows the average annual tax rose to $4,172 last year – a 2.7 percent increase over the year before. Rob Barber, ATTOM’s CEO, says higher property tax isn’t just about home values. “While rising home values … [Read more...]

Economic uncertainty has home builders concerned but an early-spring mortgage rate retreat helped bump builder confidence higher, according to the latest results of the National Association of Home Builder index. The index, based on a monthly survey, measures how optimistic home builders are on a scale where any number above 50 indicates more builders view conditions as good than poor. In April, the index bumped up one point to 40. Buddy Hughes, NAHB’s chairman, says builder confidence was helped by rates. “The … [Read more...]

According to the Mortgage Bankers Association’s Weekly Application Survey, average mortgage rates spiked last week from one week earlier. Rates were up across all loan categories including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, 15-year fixed-rate loans, and 5/1 ARMs. Mike Fratantoni, MBA’s senior vice president and chief economist, says the increase slowed mortgage demand. “Mortgage rates moved 20 basis points higher last week, abruptly … [Read more...]