AGENTS: Did you know you can share a personalized version of this post? Learn more!
, , , , , ,

New Home Sales Up 12.7% From Last Year

According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July).

The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The summer months are often a busy time for builders as they capitalize on the warmer weather to be able to finish projects.

Below is a table showing the change in starts, completions, and sales from last August.

New Home Sales Up 12.7% From Last Year | Keeping Current Matters

Other notable news from the report is that the percentage of new construction sales in the $200-$299k range has continued to break away from the $300-$399k range.

This shows that builders are starting to build lower-priced homes that will help alleviate some of the inventory challenges in the starter and trade-up home categories. The chart below shows the full breakdown.

New Home Sales Up 12.7% From Last Year | Keeping Current Matters

What does this mean for buyers and sellers?

If you are thinking of buying or selling in today’s market, you no doubt have heard that there is a shortage of existing homes for sale which has been driving home prices up across the country. The additional new construction coming to the market could help alleviate this shortage, but we are still not back up to pre-crisis levels.


Members: Sign in now to set up your Personalized Posts & start sharing today!

Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized Posts.

Have You Set Up Personalized Posts Yet? | Keeping Current Matters

Powered by WPeMatico

This is the story of a girl, who cried a river and drowned the whole world.
0 comentarios

Dejar un comentario

¿Quieres unirte a la conversación?
Siéntete libre de contribuir

Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *