Housing News Updates are provided in partnership with Mortgage News Daily. In the South there was a +0.4 percent change from November and no movement whatsoever from the previous December. The West saw sales increase by 21.0 percent and 21.9 percent for the two periods. Galindo Jr- Nationwide Mortgage N University Drive, Coral Springs. Moneyhouse is a family-owned company that traces its roots to a single mortgage bank founded in 1997 in Cayey, Puerto Rico. Sales in the Midwest jumped up by 31.6 percent month-over-month and 38.9 percent on an annual basis. In the Northeast December sales were 20.8 percent higher than the previous month but down 6.5 percent from a year earlier. Sales were up strongly in three of the four regions, with only the South reporting flat results. The average price was also lower than a year earlier at $346,400 compared to $374,500. The US money house Silicon Valley Bank (SVB), which specializes in start-up financing, has been temporarily closed and placed under state control after a. The median price of a home sold in December was $288,900, the second lowest median of the year, compared to $302,000 in December 2014. Moneyhouse was founded in 2001 as Credita Management AG and has been offering easy-to-understand online information from the commercial register since 2004. At the end of the reporting period 238,000 new homes remained available for sale, a 5.2 month supply. On a non-seasonally adjusted basis there were 38,000 homes sold, compared to 34,000 in November. The median forecast among economists called for an annual pace of 500,000 units.
Sales in November were revised up slightly from 490,000 to 491,000. The Census Bureau and the Department of Housing and Urban Development said that sales of newly constructed homes were up 10.8 percent from November and 9.9 percent from December 2014 sales of 495,000. The Federal Housing Administration, generally known as FHA, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States. New home sales more or less blew away the experts in December, coming in at a seasonally adjusted annual rate of 544,000 units.
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