“Lower mortgage interest rates helped boost the pace of new home sales in March,” said NAHB Chief Economist Robert Dietz. “In February, the average 30-year fixed rate mortgage was 6.84%, while in March it fell to 6.65%.”
Good news in the housing world: More people are buying brand-new homes. In March, according to the National Association of Home Builders, new home sales jumped nearly 9% compared to the previous month.
Why? Because mortgage rates came down slightly earlier this year, making monthly payments a bit more manageable. Builders also helped things along by offering incentives—things like paying closing costs or lowering prices.
That combination encouraged more buyers to act, purchasing newly built homes, especially people who couldn’t find what they wanted in the resale market.
If you work in real estate or are involved in the title world, this is a trend worth watching—more new home sales mean more title orders in the pipeline.
You can read the full update from the National Association of Home Builders here: 👉 Click here to read the article
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