Favorable Interest Rates Mean More New Home Sales
Sales of new, single-family homes increased in March by 2.6 percent as compared to the previous month. That was the announcement just released by the U.S. Census Bureau and the Department of Housing and Urban Development.
What’s driving these new home purchases? It’s a combination of factors: favorable financing as well as a supply of unsold homes are the two most significant reasons.
Buyers have been taking advantage of this advantageous combination. Long-term interest rates in the low six percent range are looking very good for those interested in purchasing new homes. Affordable financing for buyers makes this an especially favorable time to buy, according to industry experts.
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