During September sales of new single-family homes in the US fell to a rate of 468,000, 11.5% below the revised August rate of 529,000. Quicken Loans Vice President, Bill Banfield said that the housing market as a whole looks promising, however, the lack of inventory pushing prices up is a concern. “While we are encouraged by recent reports on home sales, there remains significant uncertainty about future price growth and how long it will take for this recovery to fully unfold.
During September sales of new single-family homes in the US fell to a rate of 468,000, 11.5% below the revised August rate of 529,000. Quicken Loans Vice President, Bill Banfield said that the housing market as a whole looks promising, however, the lack of inventory pushing prices up is a concern. No regions saw a monthly gain from August but the South and the West saw gains on an annual basis.