New home sales grow, but building slows…

Welcome back dreammakers! In this episode of "Today in Mortgages," we talk about why builders are weary despite homes sales rebounding according to today's article from Zillow "New home sales rebounded more than expected in July." Builders have been aggressive trying to get rid of inventory with incentives so we aren't surprised people are buying new builds. New home-build sales were up 10% in July, but we have a contrasting article from Market Watch "New-home construction plunges to lowest level since May 2020." New home builds are down, but this is typical seasonal stuff. Homes being built now will be ready in the winter which is a slower time to move houses and it's very expensive to build homes right now. But with rates trending downward, the market outlook is looking great for the foreseeable future.  Listen in to learn about this and more!See more at TodayInMortgages.comWant to get expert coaching everyday and have the power of the best Network in Mortgages behind your production business? Learn more here. Learn more about Network Funding on our parent site. Today in mortgages is produced by Network Funding, LP, which is an equal housing lender, NMLS# 2297. Corporate office located at 10370 Richmond Ave. Suite 900, Houston, TX 77042. The content of this program is meant to be a commentary on mortgage and real estate news and any discussion of rates and or products should not be taken as individual mortgage or home buying advice or pricing estimates, and any commentary on this show is should not be considered a promise to make a loan. All applicants for a loan must qualify and you should consult a professional regarding your individual loan scenarios for your financial situation. Visit our website at nflp.com/licenses for all state licensing and other legal information.