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New Home sales UP almost 26 percent!

 

Kitchen With Cherry Wood CabinetrySales of new single family houses were at 5.4 percent in July 2015 above the revised June rate of 481,000 and 25.8 percent above the July 2014 estimate of 403,000 single family homes.

The robust improvements in last week’s new housing starts numbers are especially encouraging for new home sales moving UP!

New home inventories increased in July to 218,000, the highest level since March 2010, and this trend will continue as the home building industry continues to expand.

Inventories of existing homes, however, have not improved significantly for several years compared with new constructions.

 

Why Americans choosing to rent more?

REntingThe National Association of Realtors said Thursday that sales of existing homes rose 2 percent last month, the fastest rate since February 2007. Sales have jumped 9.6 percent over the past 12 months, while the number of listings has declined 4.7 percent.

However, despite the higher sales, more Americans are choosing to rent. The share of the U.S. population who owns homes so far this year has fallen to 63.4 percent, a 48-year low, according to the Census Bureau.

 

 

 

WOW! Rents at an All-Time High

Rents are at an all-time high for single-family homes according to Zillow‘s affordability report for the second quarter of 2015.

Did you know that consumers are currently spending an average of twice as much of their monthly income on rents as they are on mortgage payments?

Money talks! This is WHY NOW is a good time to buy a home, not only good! It is the best time to buy a house.

Sandy Flores Broker/Realtor (714) 963-7462

There is not doubt rents will likely keep rising at their current pace, and it is a fact high rents make it difficult to save for a down payment. Well, I have GOOD NEWS for you! There are down payment assistance programs that can help you buy your first home! Let’s GO!

   

Don’t DO a Home Inspection, unless