All Cash New Home Sales Outnumber FHA-Backed for the First Time Since 2007
Recent analysis of new home sales data by the NAHB’s Eye on Housing reveals that the share of cash purchases has climbed in each of the past three quarters to reach a 20-year high of 9.5% (14k sales). They say this is the first time since 2007 that cash sales accounted for both a larger number as well as a larger share of the total. In addition, according to the data, new home sales financed through FHA numbered 11k and accounted for 7.5% of the total in Q3 2022 – the smallest share since Q4 of 2007. The share has dropped by nearly two-thirds since the spring of 2020.
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