Mount Olympus Mortgage Company

Icon

The Mortgage Blog of Mount Olympus Mortgage Co.

New Home Sales Increase 3.3 Percent In April

The U.S. Department of Housing and Urban Development and the U.S. Department of Commerce released their New Residential Sales report for April. According to the report, sales of new single-family homes rose 3.3 percent over March’s revised rate and are 9.9 percent above year-before levels. The gains put new-home sales at a seasonally adjusted annual rate of 343,000, up from March’s revised rate of 332,000. The median sales price of new homes sold in April was $235,700; the average was $282,600. At the current sales pace, there was a 5.1-month supply of new homes available for sale at the end of the month. More here and here.

New Home Sales Up 7.5 Percent From March 2011

The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales Report for March 2012 shows that sales of new single-family homes are up 7.5 percent over the previous year’s pace. According to the report, new home sales came in at a seasonally adjusted annual rate of 328,000, which is 7.1 percent below February’s revised rate of 353,000 but a significant improvement over last March’s estimate of 305,000. February’s estimate was revised up from an originally reported 313,000, making that month’s sales pace the fastest since November 2009. Also, the median sales price of new houses sold during the month was $234,500; the average sales price was $291,200. At the current sales pace, there was a 5.3 month supply of new homes available for sale at the end of March. More here.

Builder Confidence At Highest Level Since 2007

Builder confidence in the market for new single-family homes is twice as strong as it was six months ago and at its highest level since 2007. The latest National Association of Home Builders Housing Market Index, which measures builders’ expectations and perceptions, was unchanged from last month. Barry Rutenberg, chairman of the NAHB, said builders are still cautious but there’s a sense that many local housing markets have started to move in the right direction and that prospects for future sales are improving. The component gauging builders expectations for sales over the next six months was up for the six consecutive month, rising two points from the month before. Regionally, the Index was up in the Northeast, South, and Midwest but down in the West. More here.

New Home Sales Mainly Flat In January

The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales report for January shows sales of new single-family homes were 0.9 below December’s upwardly revised annual rate of 324,000. The revision to December’s rate, previously reported to be 307,000, put that month’s sales pace at a year-long high. And, despite slipping from last month, January’s sales pace exceeded economists’ expectations and were 3.5 percent above last year. The median sales price of new houses sold in January was $217,000, up from $210,300 in December. At the end of the month, there was a 5.6-month supply of new homes for sale at the current sales pace. More here.

New Home Sales Slow After Three Months Of Gains

The U.S. Department of Housing and Urban Development and the U.S. Census Bureau’s New Residential Sales report for December shows new home sales slowed after three consecutive months of gains. According to the report, sales of new single-family houses were at a seasonally adjusted annual rate of 307,000 units, which is 2.2 percent below November’s rate of 314,000. The Census Bureau estimates there were 302,000 new homes sold in 2011. December’s median sales price was $210,300; the average price was $266,000. There were 157,000 new homes for sale at the end of the month, which is a 6.1-month supply at the current sales rate. More here.

Builder Confidence At Highest Level Since June 2007

The National Association of Home Builders/Wells Fargo Housing Market Index measures builder confidence in the market for new single-family homes. In January, the index rose for the fourth consecutive month and reached its highest level since June 2007. Bob Nielsen, chairman of the National Association of Home Builders, said the latest improvements to builder confidence reached every component and region and comes on the heels of several months of gains in single-family housing starts and sales. According to Nielsen, a gradual but steady improvement is beginning to take hold in an increasing number of housing markets nationwide. Component indexes measuring current sales conditions, expectations for the next six months, and traffic of prospective buyers all improved in January. Among regions, the West saw a five point gain while the Northeast index rose by nine points. The South gained two points and the Midwest posted a one point gain over December’s level. More here.

New Home Sales Up 10 Percent From 2010

The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales report for November shows sales of new single-family homes rose 1.6 percent over October’s pace to a seasonally adjusted annual rate of 315,000. The improvement puts new-home sales 9.8 percent above last year’s estimate of 287,000. There were 158,000 new homes for sale at the end of the month, which represents a six-month supply at the current sales pace. The median price for a new house in November was $214,000; the average price was $242,900. More here.

New Home Sales Rise Again In October

After rising 5.7 percent in September, new home sales increased again in October. According to data released by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family homes rose 1.3 percent above September’s rate and are 8.9 percent above last October’s estimate. The median sales price of new houses sold during the month was $212,300; the average sales price was $242,300. The seasonally adjusted estimate of new houses for sale at the end of the month was 162,000, which represents a supply of 6.3 months at the current sales pace. More here.

New Home Sales Rise At Fastest Pace Since March

The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales report for September shows sales of new single-family homes rose 5.7 percent above August’s estimate to a seasonally adjusted annual rate of 313,000. The increase was the largest since March and exceeded economists expectations. The median sales price was $204,400; the average sales price was $243,900. The estimate of new houses for sale at the end of the month was 163,000. At the current sales pace, that represents a 6.2 month supply. More here and here.

New Home Sales Up 6.1 Percent Over August 2010

Estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development show sales of new single-family houses were at a seasonally adjusted annual rate of 295,000, 2.3 percent below July’s rate but 6.1 percent above August of last year. The median sales price of new homes sold in August was $209,100; the average sales price was $246,000. The estimate of new houses for sale at the end of August was 162,000, a 6.6-month supply at the current sales rate. A six-month supply of single-family homes is considered healthy for the housing market. More here and here.

apply

Enter your email address:

Delivered by FeedBurner

About Mount Olympus Mortgage Company:

The Mount Olympus leadership team has a combined lending experience of over 130 years. Our goal is to deliver accurate information, competitive rates, and a transparent process for our clients. Along with full compliance of new, stricter Federal regulations, we’ve implemented our own internal quality control policies as an extra layer of consumer protection.
*All of our mortgage bankers are SAFE Act licensed
In 2008 the Federal government enacted a new federal licensing requirement known as the SAFE Act. It establishes minimum standards for licensing which include background checks, credit checks, testing, ongoing education requirements and registration of loan originators in order to enhance consumer protection. All of our mortgage bankers are SAFE Act licensed and registered. We comply with all federal licensing, state licensing and lending policies. Click Here for the National Mortgage License System & Registry Consumer Access.
*We comply with a strict “no-steering policy”
None of our employees are incentivized to put you in one loan program over another. Our loan process is always looking out for your best interest.
*We provide an upfront and honest Good Faith Estimate (GFE)
New federal regulations require lenders to provide customers a standardized Good Faith Estimate or GFE when disclosing rate and fees. The new and improved GFE is designed to make all lenders conform to a standardized document. This guarantees that upfront third party fee quotes are within 10% of the actual fees charged at closing. At MOMco, transparency is key to earning the trust of our clients.

About MOMco

Mount Olympus Mortgage Company ("MOMco") maintains its headquarters in Irvine, California. With extensive knowledge in both conventional and government financing, MOMco has been driving the change toward responsible lending and increased efficiency.
The home loan industry has changed dramatically in recent months and we at MOMco are here to help you navigate through it. Whether it is higher loan limits or the changing landscape of the mortgage market as a whole, MOMco is here to help you wrap your arms around the changes and select the best loan program to fit you and your family's financial situation.

Contact:

Mount Olympus Mortgage Company
2600 Michelson Drive, 6th Floor
Irvine, CA 92612
Office: 949-453-8700
Toll-Free: 888-453-4659
marketing@momco.com

Email: Quick Contact

 
marketing@momco.com

 

Website:

www.momco.com

facebooklinkedintweet

EHL2

Super Tags Widget

Housing Market Loan Demand Median Sales Price Moving Average Nahb Job Spike Six Months Vice President April New Single Family Chief Economist Housing Affordability Economists Loan Balances Affordability Market Index Refinance Loan Application Improvements Mortgage Loan Application Economy Department Of Housing And Urban Development Building Permits California Foreclosure Participants Good Time Purchase Index Year Fixed Rate Mortgages Distressed Sales Consumers Home Values Fixed Rate Mortgages Second Quarter Composite Index First Quarter U S Department Economic Growth Nar Irvine Economics Mount Olympus Applications Low Mortgage Department Of Housing Declines Homebuyer Tax Credit U S Census Bureau Survey Sales Pace Doug Duncan U S Census Fannie Mae Pending Home Sales Index New Houses Homes Sale Homes For Sale Chief Executive Officer Mortgage Current Sales National Association Of Realtors Mortgage Application Census Bureau Mba Fourth Quarter Estimates Application Volume Pace Buying A Home Midwest 30 Year Fixed Rate Mortgages Consumer Confidence Respondents Signs Single Family Housing Development Metropolitan Areas New Homes Foreclosures Mortgage Rates Rose Mortgage Bankers Association Decline New Home Sales www.momcoblog.com Amp Interest Rate Existing Home Sales Foreclosure Market National Association Of Home Builders Association Of Realtors Scorecard Freddie Mac Confidence Housing And Urban Development Mortgage Activity Jumbo Loans Conforming Loan Housing Starts