New Home Sales for May

New Home Sales, which measures signed contracts on new homes, beat expectations just like this week’s Existing Home Sales Report.  Sales are up 8.9% year over year.  2.9% over April.  The Median New Home Sales Price rose 16.8% year over year to $345,800, which is the highest on record.

New-Home-Sales-6-23-2017.png

Today’s report showed that we had the 3rd strongest selling pace in 10 years.

Here is the link to today’s full report from the U.S. Department of Commerce – https://www.census.gov/construction/nrs/pdf/newressales.pdf.

Thanks for reading and please let me know if you have any questions.

All the best,

Lee McLain

Time-to-Sell at a New Low

Great article breakdown the numbers from today.  The one that really caught my eye was that 55% of the homes sold in May, sold in less than a month.  If you are thinking about selling, now is a great time!

Existing Sales Rise, Prices Peak, Time-to-Sell at New Low

Thanks for reading,

Lee McLain

 

Loan Performance

CoreLogic just released their Loan Performance Insights for March 2017, showing that mortgage performance continues to improve. Thanks to tighter underwriting and home price appreciation.

This is getting us back to levels last seen in January of 2000.  And this is great news for homeowners.  Since distressed sales are not hurting home values and fewer vacant homes that can attract crime.

Thanks for reading,

Lee McLain

Home Buying 101

Questions about the mortgage process?  Here is a short, quick, easy to read breakdown of the process.  Let me know if you have any questions or concerns and I’ll be happy to answer them.

Home Buying 101 – 5 Steps Guide 6-2017

Thanks for taking the time to stop by, all the best!

Lee McLain