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Mdflder 2 posts  |  Last Activity: Sep 24, 2014 10:19 AM Member since: Jul 12, 1999
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  • mdflder by mdflder Sep 24, 2014 10:19 AM Flag

    U.S. new home sales race to six-year high in August

    10:01 AM Eastern Daylight Time Sep 24, 2014
    WASHINGTON, Sept 24 (Reuters) - Sales of new U.S.
    single-family homes surged in August and hit their highest level
    in more than six years, offering confirmation that the housing
    recovery remains on course.
    The Commerce Department said on Wednesday sales jumped 18.0
    percent to a seasonally adjusted annual rate of 504,000 units.
    That was the highest level since May 2008 and marked the second
    straight month of gains.
    July's sales were revised to show a 1.9 percent gain instead
    of the previously reported 2.4 percent drop.
    Economists polled by Reuters had forecast new home sales
    rising to only a 430,000-unit pace last month.
    While the new home sales segment accounts for only 9.1
    percent of the housing market, the increase last month should
    allay fears of renewed housing weakness after a surprise decline
    in home resales last month.
    A survey last week showed homebuilder sentiment hit its
    highest level in nearly nine years in September, with builders
    reporting a sharp pick-up in buyer traffic.
    In August, new home sales soared 50 percent in the West to
    their highest level since January 2008.
    Sales in the populous South increased 7.8 percent to their
    highest level in 10 months. In the Northeast, sales rose 29.2
    percent, but were flat in the Midwest.
    Despite the rise in sales, the stock of new houses hit its
    highest level in four years. At August's sales pace it would
    take 4.8 months to clear the supply of houses on the market.
    That compared to 5.6 months in July.
    Six months' supply is normally considered a healthy balance
    between supply and demand

  • mdflder mdflder Sep 2, 2014 3:35 PM Flag

    I believe this is the FHFA announcement for today.FHFA Seeks to Expand Mortgage Access
    Daily Real Estate News | Tuesday, September 02, 2014

    The Federal Housing Finance Agency announced that it wants housing finance giants Fannie Mae and Freddie Mac to provide greater support to low-income mortgage borrowers and refinancers.

C
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