American Land Title Association
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

New-home Sales Continue To Rise In September

October 27, 2004

WASHINGTON,DC — Sales of new single-family homes rose to a seasonally adjusted annual rate of 1.206 million units in September, a 3.5 percent increase from the month before, the U.S. Commerce Department reported today. The rate was 7.0 percent above the sales pace of September 2003.

“With long-term mortgage rates below 6 percent and adjustable rate mortgages around 4 percent, buyers have had a powerful incentive to buy and we expect robust sales to continue in the coming months,” said Bobby Rayburn, president of the National Association of Home Builders (NAHB) and a home and apartment builder from Jackson, Miss. “The latest NAHB/Wells Fargo Housing Market Index, based on our monthly surveys of single-family builders, indicated that builders saw a large turnout of prospective buyers at model homes and sales centers in October.”

“Economic conditions — low mortgage rates, healthy income and employment growth and solid house price performance — continue to invigorate demand,” said NAHB Chief Economist David Seiders. “We certainly remain on track to have another record year in 2004.”

Three regions registered sales increases for the month. The Northeast posted a 6.0 percent increase. The Midwest rose 12.3 percent, and sales in the South were up 2.7 percent. The West posted a slight decline, down 0.8 percent for the month.

The inventory of unsold new homes was 404,000 units in September, putting the month’s supply at 4.1 at the current sales pace, slightly lower than the previous month.

Source: NAHB

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2015 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment