US new home sales rise to near 1½-year high

The Commerce Department said on Tuesday new home sales increased 4.5 percent to a seasonally adjusted annual rate of 692,000 units last month, the highest level since November 2017.

Economists polled by Reuters had forecast new home sales, which account for about 11.7 percent of housing market sales, decreasing 2.5 percent to a pace of 650,000 units in March. New home sales have not been severely impacted by the supply problems that have plagued the market for previously owned homes. A report on Monday showed home resales tumbled in March, weighed down by a persistent shortage of lower-priced houses.

In addition, house price inflation has slowed and wage growth has picked up. Still, land and labor shortages are constraining builders' ability to break more ground on lower- priced housing projects. Investment in homebuilding contracted 0.3 percent in 2018, the biggest drop since 2010.

Kids, time to sell the properties you bought in 08. realestateinvesting

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U.S. Existing-Home Sales Declined in MarchSales of previously owned U.S. homes sputtered in March, failing to build off strong gains in February, despite lower mortgage rates and a strong job market. Maybe bc families have to make a mortgage payment for daycare Effectively, under the GOP Middle Class tax increase, there is no tax deduction on the first $550,000 to $600,000 of a mortgage for a married couple. Buying a home is just not as good an investment as it used to be 🤷🏻‍♂️ If owning a home and deducting mortgage interest and property taxes is no longer helping us on taxes, why bother buying a home? repealtrumpstaxlaw
Source: WSJ - 🏆 98. / 63 Read more »