New-home sales edged higher in March, the latest sign that the housing recovery is here to stay.
New homes sold at an annual pace of 417,000 in the month, a gain of only 1.5% rise from February but an 18.5% jump compared to a year earlier. The supply of new homes on the market remained relatively tight, as only a 4.4 month supply of homes are available at the current sales pace. Recent months have seen improvement in a number of market fundamentals that have lead to a recovery in housing. Those factors include a drop in foreclosures, near record-low mortgage rates, rising home prices and a drop in unemployment. All are helping to bring more buyers back into the market.
To read full article:
No comments:
Post a Comment