Market Update: New Home Sales fall 11.5%

  • October 26, 2015

Today’s U.S. Census Bureau report showed that new home sales in September fell 11.5% to a seasonally-adjusted annual rate of 468,000. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“When you take a step back and look at year-over-year growth, the overall housing picture looks promising despite September’s drop in new home sales. However, a lack of inventory pushing up prices continues to be a thorn in the side of the overall housing market.”

If you would like to speak to Bill about this or any other topic, please contact us.

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