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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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November New Home Sales Surge!

November New Home Sales Surge!

January 31st, 2019 | Mortgage News

The partial government shutdown ended last Friday so the delay of sales of newly built homes for November was reported today with a big number. November New Homes Sales jumped 17% from October to an annual rate of 657,000 units, well above the 555,000 expected. However, sales were down 7.7% from November 2017. Across the country, sales jumped 100% in the Northeast, up 30.5% in the Midwest, up 20.6% in the South with a 5.9% decline in the West. There was a six-month supply of homes for sale om the market which is seen as normal. A solid report though somewhat backward looking due to the delay in reporting the numbers.

Source: Mortgage Market Guide