SEPTEMBER 2013 FLORIDA HOMES SALES UP! HAVE YOU CONSIDERED BUYING A NEW HOME?

ImageIt looks like Florida is slowly recovering, but I have noticed a drop off of buyer traffic since the government shut down has been going on. I would say the FishHawk neighborhood that I live in may be above the stats below with the finishing touches being put of Starling Water and a new section opening up with multiple builders. As always, if you need help selling or buying a home in the Tampa please give Rich Kemper a call at 813-777-5332.   

Fla. applications for new homes rose in Sept.

 

WASHINGTON – Oct. 14, 2013 – The Mortgage Bankers Association’ (MBA) Builder Application Survey (BAS) for September 2013 found that mortgage applications for new home purchases in the U.S. decreased by 1 percent relative to the previous month, though the numbers aren’t adjusted to compensate for seasonal variations.

In Florida, however, new home applications rose both month-to-month and year-to-year. Compared to August 2013, applications rose 1.6 percent. Compared to September 2012, applications rose 10.7 percent.

By product type, conventional loans composed 68.4 percent of U.S. loan applications, FHA loans made up 16.6 percent, RHS/USDA loans composed 1.1 percent and VA loans made up 13.9 percent.

The average loan size of new homes increased from $284,392 in August to $289,650 in September.

MBA estimates that sales of new single-family homes were running at a seasonally adjusted annual rate of 459,000 in September 2013. On an unadjusted basis, the MBA estimates that there were 36,000 new home sales in September 2013. Even though the mortgage rate declined nationally, the percentage of all-cash home sales led to the increased estimate.

© 2013 Florida Realtors®

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