March New Home Sales: Inventory Maintains Earlier Gain
The median seasonally adjusted price of new homes sold in March increased by 2.1 percent from February to $336,100, a new all-time high beating the previous record of $334,900 reported in November 2017.
Rapid Reaction: March New Home Sales
March new home sales rose 4 percent from February and 8.8 percent from a year ago, to 694,000 units (SAAR), according to the U.S. Census Bureau. Data from the prior three months was also revised up by a combined 152,000 units.
Rapid Reaction: March Existing Home Sales
March existing home sales rose 1.1 percent from February, to 5.6 million (SAAR), according to the National Association of Realtors. Sales were down 1.2 percent from a year ago.
Economic Strength Continues to Steady Mortgage Rates in the Face of Political Shocks
While geopolitical headlines temporarily seized markets’ attention – as they have time and time again over the past few years – underlying macroeconomic fundamentals continue to point to a reasonably strong U.S. economy.
March Home Sales Forecast: Damn the Weather
Wintry weather across much of the country in March kept home shoppers inside, compounding the headwinds from tight for-sale inventory and higher mortgage rates.
Living the ‘Homemade’ Life in Hudson, N.Y.
'People come here because they have an idea of what the ideal life would be, and they come here to let this be a place of working toward the ideal.'
Living the ‘Homemade’ Life in Savannah
'There is this energy. The cobblestones, the dripping Spanish moss, the years and years of history. You feel it all here.'
Living the ‘Homemade’ Life in Asheville, N.C.
'It's just this free-spirited little place tucked away in the mountains.'
Living the ‘Homemade’ Life in Bend, Oregon
'The thing that makes Bend feel like home to me is whenever I see the Cascade Mountains off in the distance.'
Mortgage Rates Steady Despite Trade Tensions, Mixed Jobs Report
Breaking news and soft inflation data on Wednesday put slight downward pressure on mortgage rates, but they remained remarkably steady, which suggests that, at least for now, markets are writing off recent developments as transitory.
