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New Home Sales on Pace for Worst Year on Record
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
New Home Sales on Pace for Worst Year on Record
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
New Home Sales on Pace for Worst Year on Record

August 23, 2011 (Chris Moore)

Sales of new single-family homes declined for the third consecutive month in July putting 2011 on a pace to be one of the worst years since the Census Bureau started keeping records back in 1963.

Sales of new homes declined 0.7 percent from June to July at a seasonally adjusted rate of 298,000, down from a revised rate of 300,000 in June. Sales in June were revised downward from 312,000 to 300,000.

New single-family home sales had fallen to an all-time low of 279,000 in February and were followed by gains in March and April, but have been declining since May.

Sales in July were still 6.8 percent higher than the estimated 297,000 units sold in July of 2010.

Last year was the worse year on record for new single-family home sales, but so far sales for new homes for the first seven months of this year compared to the same period last year are 11 percent lower. If current sales trends continue, 2011 will likely replace 2010 as the worse year on record.

Year-to-date, sales are 29.4 percent lower in the Northeast, 17.6 percent lower in the Midwest, 7.3 percent lower in the South, and 6.9 percent lower in the West.

The median sales price of the new homes sold in July was $222,000, which was down from $236,800 in June. The average sales price for a new home in July was 272,300, up slightly from $272,000 in June. Three of every four new single-family homes sold in July was under $300,000.

Two of the four regions experienced a gain in monthly new home sales from June to July with sales in the Northeast double what they were the month before while the Midwest posted a gain of 2.4 percent. The South and the West posted declines of 7.4 percent and 5.9 percent, respectively.

Compared to a year ago, new single-family home sales in the South and the Midwest remained unchanged while the West posted a sales increase of 45.5 percent and sales in the Northeast declined 3.4 percent.

Inventory of new single-family homes remained relatively balanced by historic standards with a seasonally adjusted 165,000 homes available for sale, which translates into a 6.6 months supply of inventory.

Tags: Census Bureau, new home sales, single-family homes, median sales price, average sales price

Source:
Census Bureau

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
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BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

August 23, 2011 (Chris Moore)

Sales of new single-family homes declined for the third consecutive month in July putting 2011 on a pace to be one of the worst years since the Census Bureau started keeping records back in 1963.

Sales of new homes declined 0.7 percent from June to July at a seasonally adjusted rate of 298,000, down from a revised rate of 300,000 in June. Sales in June were revised downward from 312,000 to 300,000.

New single-family home sales had fallen to an all-time low of 279,000 in February and were followed by gains in March and April, but have been declining since May.

Sales in July were still 6.8 percent higher than the estimated 297,000 units sold in July of 2010.

Last year was the worse year on record for new single-family home sales, but so far sales for new homes for the first seven months of this year compared to the same period last year are 11 percent lower. If current sales trends continue, 2011 will likely replace 2010 as the worse year on record.

Year-to-date, sales are 29.4 percent lower in the Northeast, 17.6 percent lower in the Midwest, 7.3 percent lower in the South, and 6.9 percent lower in the West.

The median sales price of the new homes sold in July was $222,000, which was down from $236,800 in June. The average sales price for a new home in July was 272,300, up slightly from $272,000 in June. Three of every four new single-family homes sold in July was under $300,000.

Two of the four regions experienced a gain in monthly new home sales from June to July with sales in the Northeast double what they were the month before while the Midwest posted a gain of 2.4 percent. The South and the West posted declines of 7.4 percent and 5.9 percent, respectively.

Compared to a year ago, new single-family home sales in the South and the Midwest remained unchanged while the West posted a sales increase of 45.5 percent and sales in the Northeast declined 3.4 percent.

Inventory of new single-family homes remained relatively balanced by historic standards with a seasonally adjusted 165,000 homes available for sale, which translates into a 6.6 months supply of inventory.

Tags: Census Bureau, new home sales, single-family homes, median sales price, average sales price

Source:
Census Bureau

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

August 23, 2011 (Chris Moore)

Sales of new single-family homes declined for the third consecutive month in July putting 2011 on a pace to be one of the worst years since the Census Bureau started keeping records back in 1963.

Sales of new homes declined 0.7 percent from June to July at a seasonally adjusted rate of 298,000, down from a revised rate of 300,000 in June. Sales in June were revised downward from 312,000 to 300,000.

New single-family home sales had fallen to an all-time low of 279,000 in February and were followed by gains in March and April, but have been declining since May.

Sales in July were still 6.8 percent higher than the estimated 297,000 units sold in July of 2010.

Last year was the worse year on record for new single-family home sales, but so far sales for new homes for the first seven months of this year compared to the same period last year are 11 percent lower. If current sales trends continue, 2011 will likely replace 2010 as the worse year on record.

Year-to-date, sales are 29.4 percent lower in the Northeast, 17.6 percent lower in the Midwest, 7.3 percent lower in the South, and 6.9 percent lower in the West.

The median sales price of the new homes sold in July was $222,000, which was down from $236,800 in June. The average sales price for a new home in July was 272,300, up slightly from $272,000 in June. Three of every four new single-family homes sold in July was under $300,000.

Two of the four regions experienced a gain in monthly new home sales from June to July with sales in the Northeast double what they were the month before while the Midwest posted a gain of 2.4 percent. The South and the West posted declines of 7.4 percent and 5.9 percent, respectively.

Compared to a year ago, new single-family home sales in the South and the Midwest remained unchanged while the West posted a sales increase of 45.5 percent and sales in the Northeast declined 3.4 percent.

Inventory of new single-family homes remained relatively balanced by historic standards with a seasonally adjusted 165,000 homes available for sale, which translates into a 6.6 months supply of inventory.

Tags: Census Bureau, new home sales, single-family homes, median sales price, average sales price

Source:
Census Bureau

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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