If you need assistance, please call 850-259-1798

JULY NEW-HOME SALES REACH 17-MONTH HIGH

Monday, August 28, 2023   /   by Richard Eimers

JULY NEW-HOME SALES REACH 17-MONTH HIGH

By Kerry Smith

In a seasonally adjusted month-to-month comparison, July sales were 4.4% higher than June sales. Year-to-year sales were up 31.5%.
WASHINGTON – New-home sales hit a 17-month high in July as construction continues to hold an outsized percentage of the home-sale market. The industry has been slowly ramping up even as the existing-home market pulls back because homeowners with ultra-low mortgage rates are opting to stay in place rather than move.
In a seasonally adjusted month-to-month comparison, July sales were 4.4% higher than June sales. Year-to-year sales were up 31.5%, according to a joint report from the U.S. Department of Housing and Urban Development and the Census Bureau.

A new home’s median price was $436,700 in July, according to the report, down 8.6% from $478,200 one year earlier as more builders focus on a lower end of the new-home market.
“With the median price of a new home running close to that of an existing home, many homebuyers are opting for the benefits of fresh floor plans, better energy efficiency and a warranty,” George Ratiu, chief economist at Keeping Current Matters said to CNN. “Builders are bringing a growing number of new single-family homes to market, focused on meeting the needs of an affordability-constrained consumer.”
Beach Road Realty
Richard Eimers
17 Roundwood Drive
Inlet Beach, FL
850-259-1798
Beach Road Realty

The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Properties listed by Brokers other than this Broker are marked with either the listing Broker's logo or name or the MLS name or a logo provided by the MLS. Detailed information about such properties includes the name of the listing Brokers. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. The Florida Association of REALTORS® and its cooperating MLSs do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Data last updated June 19, 2024

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. Vendor Member Number: 28179

This site powered by CINC: www.cincpro.com