New Homes Sales Race To Keep Up With Demand

New Homes Sales Race To Keep Up With Demand

According to HUD and the U.S. Census Bureau, many Americans are turning to the new home market to fulfill their dream of Homeownership.  Percentages behind the reasoning are as follows:

40% to avoid renovations or existing problems

24% to have the ability to choose and customize

17% like the amenities of new home construction communities

10% due to lack of inventory on existing homes

9% want green/energy efficient homes

A few highlights on the demand for New Homes:

  • Many buyers who are searching for their dream homes are turning to new home construction after 10% of all new home buyers sighted a lack of inventory of existing homes as their reason for purchase.

  • The median home price decreased slightly from September's high of $314,100 to $304,500 in October.

  • The West saw the largest month over month jump in sales at 28.7%.

Jackie Stokes Headshot
Phone: 918-337-9293
Dated: December 6th 2016
Views: 178
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