Existing-Home Sales Soared in September—7 in 10 Homes Sold in Less Than a Month
The numbers: Existing-home sales increased for the fourth consecutive month in September, as the U.S. housing market benefitted from low interest rates. Total existing-home sales rose 9.4% from August to a seasonally-adjusted, annual rate of 6.54 million, the National Association of Realtors reported Thursday. Compared with a year ago, home sales were up nearly 21%. “Home sales […]
Where Trump and Biden Stand on Mortgage Finance
Donald Trump and Joe Biden have divergent views on the federal government’s role in the $11 trillion mortgage market, with potential consequences for the price of home loans for millions of Americans. In keeping with the Republican Party’s emphasis on limiting the government’s role in the economy, the Trump administration aims to return two giant […]
New-Home Construction Rises Modestly in September, Driven by a Northeast Building Boom
The numbers: U.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.42 million in September, representing a 1.9% increase from the previous month’s downwardly-revised figure, the U.S. Census Bureau reported Tuesday. Compared with last year, housing starts were up 11%. Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.55 million, […]