Industry News

New Home Sales Pace in September Hits 10-Year High

Tom Oslund

Sales of newly built, single-family homes in September rose 18.9% to a seasonally adjusted annual rate of 667,000 units from an upwardly revised August reading, according to newly released data from HUD and the Census Bureau. This is the highest sales rate since October 2007. Year to date, new home sales are 8.6% above their level over the same period last year.

“The September sales...

Builder Confidence Posts Solid Gain in October

Tom Oslund

Builder confidence in the market for new single-family homes rose four points to 68 in October on the NAHB/Wells Fargo Housing Market Index (HMI). This was the highest reading since May.

“This month’s report shows that home builders are rebounding from the initial shock of the hurricanes,” said NAHB Chairman Granger MacDonald. “However, builders need to be mindful of long-term...

The 10 worst things you can say to a mortgage lender

Tom Oslund