Homebuilder sentiment declines to an eight-month low

Manhattan homebuyers make fewest first-quarter deals since 2009 The average price for a residential condo in Manhattan increased 4 percent to $3 million in the first quarter of 2017, relative to 2016, while the median prices fell 10 percent to $1.7 million in.Rising Demand, Competitive Market May Contribute to Increasing Fraud Risk. The overall rise in purchase and refinance applications, coupled with strong first-time home buyer demand and tight inventory, bodes well for an early spring home-buying season, but may contribute to further increases in defect risk. Historically, purchase transactions.

 · Homebuilders polled by the National Association of Home Builders/Wells Fargo reported sentiment fell to an eight-month low in July, US homebuilder confidence dips to an eight-month low.

Sentiment among homebuilders deteriorated to an eight-month low in July on concerns about higher material costs, according to data Tuesday from the National Association of Home Builders/Wells Fargo. The Builders’ Housing Market Index decreased to 64 (the estimate 67) from 66 in June (revised from 67). The measure of the six-month sales outlook dropped to a five-month low of 73 from 75.