Mortgage News

New-home sales slump 7% in April after reaching the best level of the cycle

Home Loans In Dumas, Texas Lennar Corp. signage is displayed outside a sales office at the Creeks of Legacy development in Prosper, Texas. Read: New-home sales slump 7% in April after reaching the best level of the cycle. personal loans for debt consolidation, home improvement, major purchases, and more. Applying online is quick and easy.

This is 7.8 percent (14.7 percent)* below the revised April rate of 679,000 and is 3.7 percent (15.0 percent)* below the May 2018 estimate of 650,000. Sales Price The median sales price of new houses sold in May 2019 was $308,000. The average sales price was $377,200.

Below are a few highlights from the second week of April that influence our business: * Strong March New Home Sales. The Mortgage Bankers Association’s (MBA’s) most recent regular report on mortgage application volume released on Wednesday indicated a sudden pick-up in purchase mortgage applications last week.

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Getty Images Construction worker framing a building against a sunny blue sky. The numbers: New-home sales were at a 673,000 seasonally adjusted annual rate in April, the Commerce Department said Thursday. That was 6.9% lower than March, but that month’s tally was revised sharply higher.

Getting out of a sales slump is mentally, physically and economically exhausting. Let’s examine it. A sales slump by description is a situation where you have selling skills, but as of late, those skills seem to have mysteriously abandoned you, and nothing that has worked in the past is working now.

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New-home sales slump 7% in April after reaching the best level of the cycle. New-home sales were at a 673,000 seasonally adjusted annual rate. Sales were 7% higher than a year ago in April.

Contrary to the earlier estimate of a slump, business inventories. Market Index touched its highest level in highest since Oct 2005. (Read: 4 Homebuilder Stocks to Buy on Upbeat Data) New home.

Those rising home prices got help from years of very low mortgage rates, which put more expensive homes within reach for people at a given income level. Activity was also probably boosted by some bounce-back effect after the housing market crash of 2007-09, a result of pent-up demand for homes that were not bought while the market was collapsing.