Home Loan Demand Drops
Housing market still steady
Less people are applying and receiving home loans. While that’s not exciting news if you are in the market to sell your home, take heart. The housing market is still steady.
Analysts expected housing starts to show $1.85M for the month of May, and their 5% increase at $1.957M was markedly better than anticipated. Single family home sales were up 2.1% and multi-family were up 19.7%.
One analyst cautioned:
The sector is continuing to adhere to the "soft landing" scenario for
the year, as activity is dropping back from the peak levels of 2005,
but remains at lofty levels overall.
the year, as activity is dropping back from the peak levels of 2005,
but remains at lofty levels overall.
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