A decline in U.S. purchases of new homes in July may be a sign the industry took a breather following an even stronger run of sales than previously reported. So says an article by GlobeSt.com sister publication, ALM's Credit Union Times.
The article states that according to government data, the slowdown as the second half got under way may reflect lack of affordability and low inventory, which have been constraints, especially for younger, first-time buyers who find it harder to get housing-related credit.
At the same time, the cooling is unlikely to derail what's been a gradual uptrend in sales that's helping the housing market make progress. The revisions for the previous three months show that demand has been supported by steady hiring and borrowing costs still near record lows. Shortages of previously owned houses on the market may also drive some prospective buyers to look at new properties.
Click here to read the full article.
A decline in U.S. purchases of new homes in July may be a sign the industry took a breather following an even stronger run of sales than previously reported. So says an article by GlobeSt.com sister publication, ALM's Credit Union Times.
The article states that according to government data, the slowdown as the second half got under way may reflect lack of affordability and low inventory, which have been constraints, especially for younger, first-time buyers who find it harder to get housing-related credit.
At the same time, the cooling is unlikely to derail what's been a gradual uptrend in sales that's helping the housing market make progress. The revisions for the previous three months show that demand has been supported by steady hiring and borrowing costs still near record lows. Shortages of previously owned houses on the market may also drive some prospective buyers to look at new properties.
Click here to read the full article.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
