Valuation

New Home Sales Looking Up, Despite Challenges 

Following April’s noteworthy progress, new home sales and traffic maintained improved levels in May. But builders’ caution of what’s to come in the near term, according to the John Burns Real Estate Consulting May survey released today. “We think the season’s modest uptick is fueled by Spring euphoria,” says John Burns, CEO of Irvine, Calif.-based John Burns Real Estate Consulting. “It’s been supplemented by improved affordability, low mortgage rates on conforming loans and federal and state new home tax credits.”