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New Single Family Home Sales Plummet, Well Maybe
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You're Now Reading:
New Single Family Home Sales Plummet, Well Maybe
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.
You're Now Reading:
New Single Family Home Sales Plummet, Well Maybe
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Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

March 24, 2011 (Chris Moore)
mortgage-newhomesale-image
Sales of new single family homes plummeted by 16.9 percent in February, compared to January, to a seasonally adjusted annual rate of 250,000 according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). However, there is a huge asterisk next to that data as the estimate could be off by as much as 19.1 percent.

The drop in sales compares to a revised rate of 301,000 in January and is 28 percent lower than February 2010 which was at a rate of 347,000.

The Census Bureau figures are survey estimates subject to large sampling errors. Monthly estimates are almost always revised. With a margin of error of 19 percent, the actual figure could be anywhere from 202,000 to 298,000, however, they do provide a rough estimate of how things are trending. For example, January’s new home sales was originally estimated at 284,000, but was later revised to 301,000. Compare that to February 2010’s figures, and one can assert that there has been a definite decline in new home sales.

The median sales price of a new home sold in February was $202,100, while the average sales price was $246,000.

The report calculates that based upon the seasonally adjusted estimate of 186,000 new homes for sale at the end of February, that there is an 8.9 month supply of homes on the market.

By region, the Northeast reported 15,000 new home sales, the Midwest reported 29,000 sales, the South reported 148,000 sales, and the West reported 58,000 new home sales.

Tags: single family home sales, census bureau, HUD, median sales price, average sales price

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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.
HOW
MORTGAGELOANRATEUPDATE
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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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

March 24, 2011 (Chris Moore)
mortgage-newhomesale-image
Sales of new single family homes plummeted by 16.9 percent in February, compared to January, to a seasonally adjusted annual rate of 250,000 according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). However, there is a huge asterisk next to that data as the estimate could be off by as much as 19.1 percent.

The drop in sales compares to a revised rate of 301,000 in January and is 28 percent lower than February 2010 which was at a rate of 347,000.

The Census Bureau figures are survey estimates subject to large sampling errors. Monthly estimates are almost always revised. With a margin of error of 19 percent, the actual figure could be anywhere from 202,000 to 298,000, however, they do provide a rough estimate of how things are trending. For example, January’s new home sales was originally estimated at 284,000, but was later revised to 301,000. Compare that to February 2010’s figures, and one can assert that there has been a definite decline in new home sales.

The median sales price of a new home sold in February was $202,100, while the average sales price was $246,000.

The report calculates that based upon the seasonally adjusted estimate of 186,000 new homes for sale at the end of February, that there is an 8.9 month supply of homes on the market.

By region, the Northeast reported 15,000 new home sales, the Midwest reported 29,000 sales, the South reported 148,000 sales, and the West reported 58,000 new home sales.

Tags: single family home sales, census bureau, HUD, median sales price, average sales price

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.

March 24, 2011 (Chris Moore)
mortgage-newhomesale-image
Sales of new single family homes plummeted by 16.9 percent in February, compared to January, to a seasonally adjusted annual rate of 250,000 according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). However, there is a huge asterisk next to that data as the estimate could be off by as much as 19.1 percent.

The drop in sales compares to a revised rate of 301,000 in January and is 28 percent lower than February 2010 which was at a rate of 347,000.

The Census Bureau figures are survey estimates subject to large sampling errors. Monthly estimates are almost always revised. With a margin of error of 19 percent, the actual figure could be anywhere from 202,000 to 298,000, however, they do provide a rough estimate of how things are trending. For example, January’s new home sales was originally estimated at 284,000, but was later revised to 301,000. Compare that to February 2010’s figures, and one can assert that there has been a definite decline in new home sales.

The median sales price of a new home sold in February was $202,100, while the average sales price was $246,000.

The report calculates that based upon the seasonally adjusted estimate of 186,000 new homes for sale at the end of February, that there is an 8.9 month supply of homes on the market.

By region, the Northeast reported 15,000 new home sales, the Midwest reported 29,000 sales, the South reported 148,000 sales, and the West reported 58,000 new home sales.

Tags: single family home sales, census bureau, HUD, median sales price, average sales price

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.