{"id":76652,"date":"2023-10-25T11:37:10","date_gmt":"2023-10-25T15:37:10","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/new-home-sales-jump-demand-outweighs-rising-mortgage-rates\/"},"modified":"2023-10-25T11:37:14","modified_gmt":"2023-10-25T15:37:14","slug":"new-home-sales-jump-demand-outweighs-rising-mortgage-rates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76652","title":{"rendered":"New Home Sales Jump. Demand Outweighs Rising Mortgage Rates."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000780125\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Sales of new homes jumped in September, even as mortgage rates climbed toward 8%. It\u2019s a sign that buyers remain eager to buy new homes in a market with few previously owned options\u2014and builder incentives probably don\u2019t hurt.\u00a0<\/p>\n<p>New home sales, a measure of contract signings for newly constructed homes, rose 12.3% to a seasonally-adjusted annual rate of 759,000 from August\u2019s upwardly-revised rate of 676,000, government data released Wednesday show. Economists had expected a 0.7% gain from August\u2019s preliminary level, according to FactSet. September\u2019s rate was about 34% higher than one year ago, and the highest since February 2022.<\/p>\n<div class=\"paywall\">\n<p>The gain shows that prospective buyers have remained in the market despite quickly-rising mortgage rates. The data captures a period when mortgage rates climbed to their highest levels in two decades. Since the end of September, mortgage rates have continued to gain, with the average 30-year fixed mortgage rate rising last week to 7.63%, its highest level since late 2000.\u00a0<\/p>\n<p>With few previously owned homes available for sale, the data suggests buyers have continued to seek out more options\u2014not to mention price cuts or buyer incentives\u2014from builders. About three in 10 builders surveyed by the National Association of Home Builders in October said they reduced home prices, while 62% said they offered sales incentives more broadly.<\/p>\n<p>Write to Shaina Mishkin at shaina.mishkin@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/new-home-sales-jumped-in-september-demand-trumped-rising-mortgage-rates-54933339?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales of new homes jumped in September, even as mortgage rates climbed toward 8%. It\u2019s a sign that buyers remain eager to buy new homes in a market with few previously owned options\u2014and builder incentives probably don\u2019t hurt.\u00a0 New home sales, a measure of contract signings for newly constructed homes, rose 12.3% to a seasonally-adjusted [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":76653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-76652","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Home Sales Jump. Demand Outweighs Rising Mortgage Rates. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Sales of new homes jumped in September, even as mortgage rates climbed toward 8%. It\u2019s a sign that buyers remain eager to buy new homes in a market with\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=76652\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Home Sales Jump. Demand Outweighs Rising Mortgage Rates. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Sales of new homes jumped in September, even as mortgage rates climbed toward 8%. It\u2019s a sign that buyers remain eager to buy new homes in a market with\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=76652\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-25T15:37:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-25T15:37:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1698248232_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=76652#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=76652\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"New Home Sales Jump. 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