“Applications for purchase loans on newly constructed homes remained strong in July, up 36% annually, as new homes continued to account for a growing share of homes available for sale,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
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Median Home Prices, New Homes for Sale Slipped in June
Annually, new listings of homes for sale dropped nearly 26%, falling below their previous pandemic lows, according to Realtor.com.
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