Did you see the State of the Union?
Housing is so important to the economy and families, but rarely gets mentioned. This is what was talked about for housing:
President to call for first-time homebuyer tax credit, construction of 2 million homes – HousingWire
Also, numbers came out that show exactly what I have seen anecdotally: houses are still selling quickly, if they are updated and priced right.
The rally in new-home demand isn’t letting up as homebuyers facing inventory challenges on the resale market turned to new construction to realize their homeownership dreams.
Mortgage applications for new-home purchases jumped 19.1% in January compared to a year ago and rose 38% month over month, according to the January Mortgage Bankers Association (MBA) Builder Application Survey.
“Applications for new home purchases were strong in January, as newly built homes remained an attractive option for prospective homebuyers who looked to take advantage of lower mortgage rates during the month,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement.
Kan noted that the non-seasonally adjusted index “was the strongest January reading in the survey’s history.”
Conventional loans accounted for the lion’s share (64.5%) of all loan applications in January. Meanwhile, the FHA, VA and USDA share of total mortgage applications was 24.8%, 10.3% and 0.4%, respectively.
New-Home Mortgage Applications Soar In January as Housing Starts Stumble — RISMedia
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