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Buyers Not Clamoring for New Homes
Keywords:
Tags: Housing / Real Estate,
Sales of single family houses in the U.S. decline by 2.4% in July 2014 compared to the prior month, and are at an annual rate of 412,000, according to the Commerce Department. Sales of existing homes are increasing but at a slower pace because of price increases. There is a 13.6% increase in median new home prices from July 2012 with wage growth of 2% a year.
Decline in U.S. home loans for mortages in April 2014 as 30 year mortgage rate reach 4.49% on April 18, 2014
04/25/2014
Higher U.S. mortgage loan rates lead to a decline in the home loan applications index to 354 and morgage loan originations for the 1st quarter 2014 to $235 billion, according to the Mortgage Bankers Association. Housing will not contribute much to U.S. GDP growth in this situation.
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