WHAT DO THE JUNE NUMBERS MEAN TO YOU?
NOW IS THE TIME TO BUY!
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We see success with the new home sale numbers!
New single-family home sales shot up 8.3% in June, to a 497,000 annual rate, their highest level since May 2008. These sales are now up a humongous 38.1% versus a year ago. The median price of a new home also gained for the month and is now up 7.4% from a year ago. For those worried about how the recent uptick in mortgage rates would affect sales, this first look at purchase contracts signed in June shows no impact. Of course we must keep in mind that many lenders locked the rate for their buyers. The FHFA index of prices for homes financed with conforming mortgages was up 0.7% in May, up 7.3% over a year ago.
Call Kim @ (702) 521-3939
Kim Duclos
Wardley Real Estate