June Housing Starts

June Housing Starts

Sales of existing homes were up 1.1 percent in June from May to an annual rate of 5.57 million units. This was above the 5.50 million expected, according to the National Association of REALTORS®. Sales are up 3 percent from June 2015 and remain at their highest annual pace since February 2007 (5.79 million). The June share of first-time buyers was 33 percent, which is up from 30 percent in May and just shy of the July 2012 high of 34 percent.

On another bright note, future housing inventory will get a boost in the months ahead. June Housing Starts, which measures when excavation begins on a home, rose 4.89 percent from May, above expectations. Single-family starts, the largest segment of housing starts, increased 4.4 percent.

Building Permits, which signal future construction, also beat expectations from May to June, coming in with an increase of 1.5 percent.

With more housing being added to the market and more first-time buyers jumping into homeownership, the moment couldn't be better for home loan rates to remain near historic lows. And for now, that's where home loan rates are.

Source: David Lindeman, MMG Weekly (7/25/2016)


Matt Pennington Headshot
Author:
Phone: 480-251-0280
Dated: July 28th 2016
Views: 216
About Matt: Matt has been a licensed Real Estate Broker since 2003 and with American AllStar Realty since 2005. ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

How Much Down Payment Is Required For A Home Purchase -  While 20% down is ideal, it
My Refrigerator Broke - My beautiful 1 1/2-year-old
Upgraded Bank Owned Properties - That is correct there are bank
Arizona Housing Market Prices Are Rising But Still Not Recovered From Recession -  As the nation’s housing

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

American AllStar Realty
6642 E Baseline Rd Ste 101
Mesa, AZ
602-353-7375