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New Home Sales - Multi-Year High
The market for newly-built homes remains strong.
As reported by the U.S. Department of Commerce, 372,000 new homes were sold in July on a seasonally-adjusted, annualized basis. A "new home" is a home that can be considered new construction.
July's New Home Sales report highlights what today's buyers of new construction and the nation's home builders have witnessed for themselves already -- that the market for newly-built homes is improving inĀ Maple GroveĀ and nationwide.
The number of new homes sold in July on a seasonally-adjusted, annualized basis matches the tally from May 2012, and is the highest reading since April 2010, the last month of that year's federal home buyer tax credit.
The South Region continues to account for the majority of new construction sales, posting a 48% market share in July. South Region sales were up 9.1 percent as compared to one year ago. The other 3 regions posted higher sales volume as well :
South Region : +9.1% from July 2011 Northeast Region : +30.4% from July 2011 Midwest Region : +21.7% from July 2011 West Region : +63.8% from July 2011 Also noteworthy is that the increase in new home sales is coming at a time when new home ... more

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