Market Update: New Home Sales Jump, Provide Boost for Housing Market

  • August 23, 2016

This morning’s New Home Sales report for July showed that sales of newly built homes increased 12.4 percent since June, and rose 31.3 percent year-over-year. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“New homes are being purchased at a furious pace, and it could give the housing market the added push it’s been waiting for. With more new homes purchased by move-up buyers, it provides an increase in housing choice for first time buyers looking for their starter house.”

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