The September number was slightly above what analysts had expected. Those polled by Econoday had may predictions in a range from 675,000 to 730,000 units. Their consensus was 698,000 home sales.
On a non-adjusted basis, there were 54,000 homes sold during the month compared to 57,000 in August. Over the first nine months of this year sales have totaled 527,000 units. This is a 7.2 percent increase over the 491,000 sold over the same period in 2018.
The median price of a home sold during the month was $299,400 and the average price was $362,700. The respective numbers in September of last year were $328,300 and $386,400.
Sales fell in three of the four major regions. The Northeast saw a decline of 2.8 percent compared to August, but sales were up 29.6 percent on an annual basis. The reverse was true in the Midwest which posted the only August to September gain, 6.3 percent. Sales there are still running 17.3 percent behind those a year earlier.
Sales dipped only fractionally in the South, down 0.2 percent and were 24.0 percent higher than during the prior September. The West had 3.8 percent fewer new home sales than in August, but sales were up 11.5 percent for the year.
At the end of the reporting period there were 321,000 new homes available for sale compared to 323,000 in August and 324,000 in September 2018. The current supply is estimated at 5.5 months at the current rate of sales, the same as in August. A year earlier the supply was estimated at 6.4 months.
http://www.mortgagenewsdaily.com/10242019_new_home_sales.asp
Recap of our Loan Products:
- Stated Income Loans (No Tax Returns, no W-2s, No P&L) up to $5mm
- Bank Statement Income Loans (Great Bank Statement Program for business owners and self employed)
- Hard Money Loans aka Bridge Loans (As low as 20% down / minimal documentation) Fund in 7-10 days.
- Flipper Loans aka Rehab Loans(Flip a property with one of our many options)
- Line of Credit
- 100% Financing (cross collateralize)
- Foreign Nationals Loans (no social security or residency required)
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up to $500mm.
- 2nd Position Loans up to $5mm
- Investor Cash Flow Loan – No tax returns or DTI calculation! Based on subject property cash flow
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo’s with NO MI up to $2.5mm
- Manufactured Housing / Mobile Homes (20% down / 620+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 5% down Jumbo (Up to $2mm Lender paid PMI)
We also offer:
- 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $484,350)
- High Balance Conforming aka Super Conforming (from $484,350-$726,525)
- Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $3mm
- FHA, VA, USDA
- ARM’s
- Reverse mortgages up to $10 Million Value
