Monthly archive for June 2017

While home prices climb, mortgages remain affordable

real estate or mortgage chart

A recent article from CNN Money pointed out that while real estate prices are skyrocketing across much of the country, the cost of getting a mortgage is actually staying pretty low. To back up this claim, CNN Money’s Kathryn Vasel shared some of the latest home price data and spoke with a leading expert in the industry. According to the National Association of Realtors (NAR), the median existing home price climbed to $252,800 in May. This surpasses the last peak that hit in June 2016 of $247,600. As Vasel reiterates, home prices have been on the rise month-over-month for more

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New Home Sales Increase in May

home sold sign

New home sales got a small boost in May, signaling continued growth in new construction and builder confidence. According to a June 23 press release from the National Association of Home Builders (NAHB), sales of newly built, single-family homes rose 2.9 percent in May to a seasonally adjusted annual rate of 610,000 units after an upwardly revised April reading. The data comes from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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Builder Confidence Remains at Healthy Levels

home builders

Builder confidence in the market for newly-built single-family homes showed a slight weakening in June, down two points to a level of 67 from a downwardly revised May reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Despite the minor drop month over month, levels of builder confidence have remained fairly steady so far in 2017.

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