U.S. housing supply jumped to 7.8 months at the current sales rate in August, the highest measure recorded since March 2023, as the inventory of completed homes for sale continued to climb, hitting its highest level since April 2020.
Read More »August New Home Purchase Mortgage Applications Up Nearly 21%
Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.
Read More »Census Bureau Finds Building Permits Increased in July
According to the U.S. Census Bureau, privately owned housing units counted by the number of building permits issued in July were at a seasonally adjusted annual rate of 1,442,000. This number is slightly above the revised June rate but still 13% below the July 2022 rate of 1,658,000.
Read More »Single-Family Home Inventory Up YoY in May
Despite housing inventory falling slightly to a 7.7 months’ supply month-over-month, the nation's supply was up 34.5% over last May, with 444,000 units available for sale.
Read More »Spike in Costs Compressing Budgets for Would-Be Homeowners
Inflationary concerns continue to blanket prospective buyers as new residential sales declined month-over-month in April.
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