New home sales slid in June. The decline is not a reflection of slower housing demand, but more related to homebuilders putting up fewer homes. Whatever builders build, they are able to find buyers reasonably quick. But the homebuilding industry has been hampered by a labor shortage and the difficulty of obtaining construction loans.
The mortgage market was buffeted by a number of changes in 2013 and 2014. Among them were higher fees at the FHA. NAR Research' s second Survey of Mortgage Originators includes questions about the impact of changes to the FHA program on consumers.
The homeownership rate fell to 64.8 percent in the second quarter. It marks the lowest ownership rate in nearly 20 years. After peaking at 69 percent in 2004, the ownership rate has been steadily falling, at first from the aftermath effects of housing market bubble-crash to the ongoing tight mortgage availability conditions now.