"Housing starts are down. Permits are down. There is a significant change happening here. Hopefully the good news is houses will become more affordable." he said on CNBC's Squawk Box. (Source: MarketWatch)In August the number of new home sales increased. Builders are offering incentives to move their inventory. Nationally the numbers rose by 4.1 percent and in the Northeast it rose 21 percent. (Source: Star Ledger)
Resale home prices fell in August as sellers began lower prices of homes for the first time in 11 years. This means that prices allow more buyers an opportunity to purchase. (Source: MarketWatch)
The 30year mortgage rate is the lowest it has been since March. The national average is about 6.31 (Source: Reuters)while the average for New Jersey is even better. (See above graph)
The signs are good for a quick buyer to get a new home or a resale one for that matter for an affordable price.
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