Construction of New Homes Continues to Pick Up
"National housing market indicators available as of June show activity in housing markets overall improved."
— U.S. Department of Housing and Urban Development
The median price of previously owned (existing) homes reached $264,800 in May, an all-time high! This was 4.9% higher than a year ago and marked the 75th straight month of YoY gains.3
Hurdles to Homebuilding
Despite high demand, today’s homebuilders face a number of challenges that may impact future sales.
From April 2017 to April 2018, home values rose 6.4%.
The number of underwater mortgages is shrinking.
Now may be a great time for homeowners to tap into their equity!
 U.S. Census Bureau, Monthly New Residential Sales, May 2018.
 U.S. Census Bureau, Monthly New Residential Construction, May 2018.
 National Association of Realtors® (NAR), Existing-Home Sales, May 2018.
 U.S. Department of Housing and Urban Development, Housing Market Indicators Monthly Update, June 2018.
 NAHB, Eye on Housing, June 2018.
 Joint Center for Housing Studies of Harvard University, The State of the Nation’s Housing report, 2018
 Federal Housing Finance Agency (FHFA) purchase-only index, April 2018.