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Newly-Built homes are giving a new perspective to the housing industry
The newly-built housing market in the U.S. has experienced heartening outcome the past last months, which has reinforced and has created a ray of hope for the industry. 
 
Lower mortgage costs helped buyers afford properties and, after 2 months of an ongoing drop, there was an increase in the sale pace of newly built single-family homes by 7% in June compared to last year. The variation was mainly led by the Midwest and the South regions. This ladder rose to the highest level since 2007. 
 
The current forecast of sale pace for 2019 is almost 660,000 homes/year and so far it has been around 652,000/year up from 615,000 for the entire 2018. With a median listing price of nearly $310,400 in 2019, there was barely a variation of -0.03% down compared to a year earlier. The median sales price increased by 4.5% compared to 2018.
 
It is important to know that the newly built home is only 10% of the total home industry. The other 90% represent previously-owned homes which are not going as well. Sales drop -17% in June compared to the same period last year. Resales pace in June 2019 was 2.5% higher than the prior 2 months but 1.1% lower than June 2018
 
Even though there ... more

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