Low Mortgage Rates Attracting Consumers To The New Home Market

"The renewed momentum in the U.S. housing market accompanies the Rebound in broader economic growth," said Ali Wolf, director of economic Research at Meyers Research in a press release. "November's new home Sales show that homebuyers are feeling confidence and are eager to take Advantage of low mortgage rates."

Pending new home sales increased both on a month-to-month and annual Basis, benefitting From the current low mortgage rate environment, although They are still constrained by Inventory issues, a Meyers Research report Said.Meyers New Home Pending Sales Index for November was 120.5, up 1.3% From October and 14.3% over November 2018.