July New Home Sales up 25%!
If you have been following SI Real Estate’s blog this year… we have been tracking the housing market from January all the way through now. As predicted, the market has been rebounding all year! The most recent news is fantastic, with New Home Sales up 25% in July 2015 versus July 2014. That is a LARGE rebound in a short amount of time. Another pertinent statistic for tracking the real estate market: we saw an increase of new home sales from June to July, up 5.4% or 26,000 more home sales in July.
The numbers that were just released reflect what we are seeing here in Tampa Bay. SI Real Estate’s most recent for sale listings have been extremely active, one of which went under contract in just 6 days - pretty much for the exact listing price too. Homes priced at $750,000 + have been seeing increased activity as well. Around 6% of all new home sales in July 2015 were at the $750K+ price range. That is 3% more than June, doubling the sales in that price range.
Consumer confidence has been the highest since 2005, which is bringing more and more investors to the market. They are no longer sitting on the sidelines; they are out there buying and selling real estate! Another reason sales are up: people are finally willing to list, sell, and relocate.
2015 has been steadily rebuilding the Real Estate market, both here in Tampa and Nationally. Homes are being sold at higher prices, and in a timely manner compared to last year. My neighbor listed her house at $450,000 and had a pending contract in 8 days, including backup offers. SI Real Estate has sold two different properties in less than 10 days so far this July. We hope to see more of the same to close out this year! Continue to follow our blog updates to stay informed about the most current Real Estate trends.
Wall Street Journal reporting on July Home sales: