On the heels of earnings misses from DR Horton and PulteGroup, the US Commerce Department reported more disappointing news for the new home market. Sales for new single-family homes dropped 11.4% to 481,000 in March. Although the sector has struggled to find strong upward momentum, new single-family home sales are still up about 19% over the last year.
If economic indicators are any guide, Orange County’s housing market is heading for a fifth straight year of rising home prices, increased sales, more rent hikes and booming home construction.
With a number of factors contributing – low mortgage rates, improving economy, easing credit requirements, slowing price appreciation, higher rents – it appears that first-time homebuyers are moving off the
Single-family building permits, housing starts and new home sales all posted strong numbers in December in an indication that the new home housing market is headed on a sustainable upward
