Most New Homes Sales Were Conventionally Financed Last Year

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February 09, 2017

According to a quarterly sales report from the Census Bureau, 70.8 percent of new home sales were financed with conventional products last year, the highest share in nine years.

NAHB Eye on Housing notes that the FHA loan market share dipped to 15.7 percent, down from 25.1 percent in 2010. Cash-based transactions and VA-backed loans each accounted for less than 10 percent of sales last year.

During the housing boom last decade, more than 80 percent of new homes every year were purchased with conventional financing.

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