Real Estate News

     New Home sales in the South increased by 4.9%

from April to May and were up 1.3% from May 2018. 

     Privately owned housing units authorized by building permits in
May were at a seasonally adjusted annual rate of  1,294,000. 

This is 0.3 % above the revised April rate of 1,290,000.  Single‐family authorizations in May were at a rate of 815,000; this is 3.7 % above the revised April figure of 786,000.

    Privately‐owned housing starts in May were at a seasonally
 adjusted annual rate of 1,269,000.  This is 0.9 %  below the 
revised April estimate of 1,281,000.

Single‐family housing starts in May were at a rate of 820,000;
 this is 6.4 %  below the revised April figure of 876,000. 
Privately‐owned housing completions in May were at a seasonally adjusted
rate of 1,213,000.  This is 9.5  percent below the revised April
 estimate of 1,340,000 
and is 2.8 percent below the  May 2018 rate of
 1,248,000.  Single‐family housing completions in May were at a rate
 of 890,000;  this is 5.0 percent below the revised April rate of 937,000.

Existing-home sales are up in May 2.5% over April 2019.  May's existing
sales reached a 5.34 million seasonally adjusted annual rate.

The national average rate for 30-year mortgage money is 3.74%, FHA 30-year
is 3.74, 
15-year is 3.37%, Jumbo Loans average 3.79% and 5/1 arms are 3.50%. 

Mortgage rates are close to the lowest levels since November 2016.  Rates furnished by 


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