New home sales due to FHA-backed loans increased to a quarterly count of 23,000 and a market share of 17% for the first quarter of 2016, according to data from the Census Bureau’s Quarterly Sales by Price and Financing and NAHB calculation.

Rob Dietz, NAHB’s chief economist, writes that some caution should be taken when looking at the Census market share estimates, though. In particular, the statistical error associated with the FHA, cash, and VA sales estimates from this data set are relatively high. This reduces the reliability of measures of short-term market changes.

Mindful of this limitation, over the long run the current FHA-share is lower than the 28% share determined for the first quarter of 2010 but is higher than the 10% 2002-2003 average.

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