“The willingness of the major homebuilders to utilize incentives such as price reductions, mortgage rate buy-downs and paying buyers' closing costs continue to support a healthy pace of new home sales.”

Gregg Logan, managing director at RCLCO Real Estate Consulting, commented on data that showed sales of newly built single-family homes in the U.S. soared in March despite mortgage rates remaining elevated. Read the CNN article, “New Home Sales Surged in March Despite Elevated Mortgage Rates.”