New Home Sales Financed Through FHA Hits 8-Year High

The U.S. Census Bureau has reported through their Quarterly Sales by Price and Financing Report that FHA-backed sales made up 17.4% of all new homes sales in 2019. The largest share of FHA backed mortgages, 20.6% was recorded in 2012. In just the 4th Qtr., alone, FHA backed mortgages made up 18.4% of total sales. This is 2.9% points higher than the 3rd Qtr., of 2019 and 5.7% points higher than the 4th Qtr., of 2018. However, conventional loads still accounted for 71.1% of new home sales in the 4th Qtr. of 2019, which is 1.5% above 3rd Qtr., of 2019.

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Share of New Home Sales Financed through FHA Hits Eight-Year High