Market Leverage

New Home Buyers Gain More Leverage

New home purchase applications ↓~2% yearly in Early-Q2, while unadjusted volume ↓10% MoM as rates and uncertainty kept buyers selective nationwide now. Estimated new single-family sales ran at 655K annualized in Early-Q2, ↓~9% from Late-Q1’s 717K pace, signaling a cooler sales tempo for builders. Avg. new-home loan size moved from ~$382K to ~$378K,...