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New Home Sales Solid in July, as June Numbers Strongly Revised Upward

Sales of newly built, single-family homes fell 12.8 percent to a seasonally adjusted annual rate of 635,000 units in July off a strongly revised upward reading in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis, new home sales for 2019 are 4.1 percent higher than the same period in 2018.

“Builder confidence continues to trend upward as lower interest rates provide for more favorable buying conditions,” said Greg Ugalde, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Torrington, Conn.

“New home sales were sharply revised upward in June to a post-recession high annual rate of 728,000,” said NAHB Chief Economist Robert Dietz. “While we continue to see volatility in the monthly numbers, sales continue to trend in a slightly positive direction and are in line with our forecast.”

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the July reading of 635,000 units is the number of homes that would sell if this pace continued for the next 12 months.

The inventory of new homes for sale was 337,000 in July, representing a 6.4 months’ supply. The median sales price was $312,800. The median price of a new home sale a year earlier was $327,500.

Regionally, and on a year-to-date basis, new home sales are 7.2 percent higher in the South and 9.5 percent higher in the West. Sales are down 15.4 percent in the Northeast and 12.4 percent in the Midwest.

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New Home Community in Elk Grove Masterplan

New Home Community in Elk Grove Masterplan

ELK GROVE, Calif. (STL.News) – Richmond American Homes of California, a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC), is excited to announce the Grand Opening of Seasons at Sterling Meadows, bringing the builder’s popular Seasons™ Collection floor plans to Elk Grove’s up-and-coming Sterling Meadows masterplan. This new community also marks the debut of the Seasons™ Collection in the Greater Sacramento area!

Grand Opening Celebration RichmondAmerican.com/SterlingGO

Prospective homebuyers and area agents are invited to attend a Grand Opening celebration at Seasons at Sterling Meadows on Saturday, August 31, from 11 a.m.

Continue reading New Home Community in Elk Grove Masterplan at STL.News.

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Nationwide Mortgage Bankers lands on Inc.’s Fastest Growing Companies of 2019

Nationwide Mortgage Bankers lands on Inc.’s Fastest Growing Companies of 2019

MELVILLE, N.Y. (STL.News) – Independent mortgage lender Nationwide Mortgage Bankers, Inc. (Nmbnow.com) has made it onto Inc.’s list of the fastest-growing companies of 2019. NMB has earned the position of 51 of the 5000 organizations featured on this exclusive list.

Over the last 37 years, Inc. has celebrated the fastest-growing private companies in the U.S. Earning a spot on the Inc. 5000 isn’t just enough to earn organizations respect among their peers. Private businesses that have made it onto past Inc.

Continue reading Nationwide Mortgage Bankers lands on Inc.’s Fastest Growing Companies of 2019 at STL.News.

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Portugal is Still the Best Bang for the Buck in Europe, According to The Get Golden Visa

Portugal is Still the Best Bang for the Buck in Europe, According to The Get Golden Visa

LONDON (STL.News) – Recovering Portuguese economy is being bolstered by continuous support from foreign investors. The country succeeded in attracting many investors from all around the world to help steer it away from its crisis back in 2010. Data shows that investor interest in Portugal continues in 2019. Migratory (Golden Visa induced) and tourism related movements are generating more and more investment into the real estate market of the country, which helps growth significantly.

Real Estate Market Continues to Rise in 2019

According to the National Institute of Statistics (INE), in the first quarter of 2019, housing prices increased by 9.2%.

Continue reading Portugal is Still the Best Bang for the Buck in Europe, According to The Get Golden Visa at STL.News.

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NYC Sellers Offer Fewer Price Cuts Despite a Surplus of Homes for Sale

NYC Sellers Offer Fewer Price Cuts Despite a Surplus of Homes for Sale

NEW YORK (STL.News) – Though the NYC sales market continued to slow in July, sellers offered fewer discounts than they did earlier in the summer, according to the July 2019 StreetEasy Market Reports(i).

In Manhattan, the number of price cuts offered by sellers declined four percentage points from two months earlier, when 15.6% of homes had a discount — the highest share in 2019 so far. Queens and Brooklyn saw a similar trend, with price cuts down 1.5 and 2.8 percentage points from the highs of earlier this summer.

Continue reading NYC Sellers Offer Fewer Price Cuts Despite a Surplus of Homes for Sale at STL.News.

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