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New Home Sales on Pace for Worst Year on Record
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New Home Sales on Pace for Worst Year on Record
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
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New Home Sales on Pace for Worst Year on Record
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August 23, 2011 (Chris Moore)

Sales of new single-family homes declined for the third consecutive month in July putting 2011 on a pace to be one of the worst years since the Census Bureau started keeping records back in 1963.

Sales of new homes declined 0.7 percent from June to July at a seasonally adjusted rate of 298,000, down from a revised rate of 300,000 in June. Sales in June were revised downward from 312,000 to 300,000.

New single-family home sales had fallen to an all-time low of 279,000 in February and were followed by gains in March and April, but have been declining since May.

Sales in July were still 6.8 percent higher than the estimated 297,000 units sold in July of 2010.

Last year was the worse year on record for new single-family home sales, but so far sales for new homes for the first seven months of this year compared to the same period last year are 11 percent lower. If current sales trends continue, 2011 will likely replace 2010 as the worse year on record.

Year-to-date, sales are 29.4 percent lower in the Northeast, 17.6 percent lower in the Midwest, 7.3 percent lower in the South, and 6.9 percent lower in the West.

The median sales price of the new homes sold in July was $222,000, which was down from $236,800 in June. The average sales price for a new home in July was 272,300, up slightly from $272,000 in June. Three of every four new single-family homes sold in July was under $300,000.

Two of the four regions experienced a gain in monthly new home sales from June to July with sales in the Northeast double what they were the month before while the Midwest posted a gain of 2.4 percent. The South and the West posted declines of 7.4 percent and 5.9 percent, respectively.

Compared to a year ago, new single-family home sales in the South and the Midwest remained unchanged while the West posted a sales increase of 45.5 percent and sales in the Northeast declined 3.4 percent.

Inventory of new single-family homes remained relatively balanced by historic standards with a seasonally adjusted 165,000 homes available for sale, which translates into a 6.6 months supply of inventory.

Tags: Census Bureau, new home sales, single-family homes, median sales price, average sales price

Source:
Census Bureau

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August 23, 2011 (Chris Moore)

Sales of new single-family homes declined for the third consecutive month in July putting 2011 on a pace to be one of the worst years since the Census Bureau started keeping records back in 1963.

Sales of new homes declined 0.7 percent from June to July at a seasonally adjusted rate of 298,000, down from a revised rate of 300,000 in June. Sales in June were revised downward from 312,000 to 300,000.

New single-family home sales had fallen to an all-time low of 279,000 in February and were followed by gains in March and April, but have been declining since May.

Sales in July were still 6.8 percent higher than the estimated 297,000 units sold in July of 2010.

Last year was the worse year on record for new single-family home sales, but so far sales for new homes for the first seven months of this year compared to the same period last year are 11 percent lower. If current sales trends continue, 2011 will likely replace 2010 as the worse year on record.

Year-to-date, sales are 29.4 percent lower in the Northeast, 17.6 percent lower in the Midwest, 7.3 percent lower in the South, and 6.9 percent lower in the West.

The median sales price of the new homes sold in July was $222,000, which was down from $236,800 in June. The average sales price for a new home in July was 272,300, up slightly from $272,000 in June. Three of every four new single-family homes sold in July was under $300,000.

Two of the four regions experienced a gain in monthly new home sales from June to July with sales in the Northeast double what they were the month before while the Midwest posted a gain of 2.4 percent. The South and the West posted declines of 7.4 percent and 5.9 percent, respectively.

Compared to a year ago, new single-family home sales in the South and the Midwest remained unchanged while the West posted a sales increase of 45.5 percent and sales in the Northeast declined 3.4 percent.

Inventory of new single-family homes remained relatively balanced by historic standards with a seasonally adjusted 165,000 homes available for sale, which translates into a 6.6 months supply of inventory.

Tags: Census Bureau, new home sales, single-family homes, median sales price, average sales price

Source:
Census Bureau

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 LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.

August 23, 2011 (Chris Moore)

Sales of new single-family homes declined for the third consecutive month in July putting 2011 on a pace to be one of the worst years since the Census Bureau started keeping records back in 1963.

Sales of new homes declined 0.7 percent from June to July at a seasonally adjusted rate of 298,000, down from a revised rate of 300,000 in June. Sales in June were revised downward from 312,000 to 300,000.

New single-family home sales had fallen to an all-time low of 279,000 in February and were followed by gains in March and April, but have been declining since May.

Sales in July were still 6.8 percent higher than the estimated 297,000 units sold in July of 2010.

Last year was the worse year on record for new single-family home sales, but so far sales for new homes for the first seven months of this year compared to the same period last year are 11 percent lower. If current sales trends continue, 2011 will likely replace 2010 as the worse year on record.

Year-to-date, sales are 29.4 percent lower in the Northeast, 17.6 percent lower in the Midwest, 7.3 percent lower in the South, and 6.9 percent lower in the West.

The median sales price of the new homes sold in July was $222,000, which was down from $236,800 in June. The average sales price for a new home in July was 272,300, up slightly from $272,000 in June. Three of every four new single-family homes sold in July was under $300,000.

Two of the four regions experienced a gain in monthly new home sales from June to July with sales in the Northeast double what they were the month before while the Midwest posted a gain of 2.4 percent. The South and the West posted declines of 7.4 percent and 5.9 percent, respectively.

Compared to a year ago, new single-family home sales in the South and the Midwest remained unchanged while the West posted a sales increase of 45.5 percent and sales in the Northeast declined 3.4 percent.

Inventory of new single-family homes remained relatively balanced by historic standards with a seasonally adjusted 165,000 homes available for sale, which translates into a 6.6 months supply of inventory.

Tags: Census Bureau, new home sales, single-family homes, median sales price, average sales price

Source:
Census Bureau

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
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 MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.