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Construction of New Homes
Continues to Pick Up
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The median price of previously owned (existing) homes reached $264,800 in May, an all-time high! This was 4.9% higher than a year ago and marked the 75th straight month of YoY gains.3 |
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New vs. Existing Home Sales (thousands)4
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Hurdles to Homebuilding
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Despite high demand, today’s homebuilders face a number of challenges that may impact future sales. |
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Home Values Now 16% Higher Than Pre-Recession Peak7
From April 2017 to April 2018, home values rose 6.4%.
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 Homeowner Equity Continues to Grow4 |
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The number of underwater mortgages is shrinking.
Now may be a great time for homeowners to tap into their equity! |
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Sources:
[1] U.S. Census Bureau, Monthly New Residential Sales, May 2018. [2] U.S. Census Bureau, Monthly New Residential Construction, May 2018. [3] National Association of Realtors® (NAR), Existing-Home Sales, May 2018. [4] U.S. Department of Housing and Urban Development, Housing Market Indicators Monthly Update, June 2018. [5] NAHB, Eye on Housing, June 2018. [6] Joint Center for Housing Studies of Harvard University, The State of the Nation’s Housing report, 2018. [7] Federal Housing Finance Agency (FHFA) purchase-only index, April 2018. |
