New Home Sales - greatest gain since 1980!

By
Real Estate Agent with Solid Source Realty Georgia 282203

The numbers in the article are national numbers.  All four regions posted double digit gains in October.  The south was 28.2%, the Midwest at 28.2% , Northeast was 19.2% and the West was last with only a 15.2% gain.

New home sales see biggest monthly gain since 1980

 

by Ryan Smith | Dec 04, 2013

 

Sales of new single-family homes saw the biggest month-over-month increase since May of 1980, according to data released today by the Census Bureau and the Department of Housing and Urban Development.

New single-family home sales were at a seasonally adjusted annual rate of 444,000 in October, according to a report by the Census Bureau and HUD. That’s 25.4% above the revised September rate of 354,000 and 21.6% above October 2012’s rate of 365,000.

The October rate is also considerably higher than the 425,000 projected by economists, according to a USA Today report. However, new home construction is still less than half what it was at its pre-recession peak.

The seasonally adjusted estimate of new houses for sale in October was 183,000, according to the Census Bureau. At the current sales rate, that equates to a supply of 4.9 months. The median sales price of new houses in October was $245,800. The average sales price was $321,000.

 

 

Posted by

Logo for the The Gurley Team

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Georgia
Tags:
new homes
home prices
new construction
home sales

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
32,034

Melanie Gurley

Solid Source Realty Georgia
Have a question for Melanie?
*
*
*
*
Spam prevention