New home sales grow, but building slows…

Today in Mortgages

Welcome back dreammakers! In this episode of "Today in Mortgages," we talk about why builders are weary despite homes sales rebounding according to today's article from Zillow "New home sales rebounded more than expected in July." Builders have been aggressive trying to get rid of inventory with incentives so we aren't surprised people are buying new builds. New home-build sales were up 10% in July, but we have a contrasting article from Market Watch "New-home construction plunges to lowest level since May 2020." New home builds are down, but this is typical seasonal stuff. Homes being built now will be ready in the winter which is a slower time to move houses and it's very expensive to build homes right now. But with rates trending downward, the market outlook is looking great for the foreseeable future.
Listen in to learn about this and more!

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