Market Updates: New Home Sales Surge by 5.7%

Posted by Dil Gillani on Sunday, October 11th, 2015 at 12:29pm

In today's Market Updates blog we will be using another amazing info-graphic from our friends at KCM (KeepingCurrentMatters.com).

According to the info-graphic above, newly released data from HUD and the U.s. Census Bureau shows that many Americans are turning to the new home market to fulfill their dream of homeownership.

"The report indicates the release of pent-up housing demand as the overall economy strengthens, consumer confidence grows and mortgage interest rates remain low." - NAHB Cheif Economist David Crowe.

40% of people purchase a new home to avoid renovations or existing problems, 24% for the ability to chose and customize design, 17% for the amenities of new home construction communities, 10% for lack of inventory of existing homes, and 9% for green/energy efficiency. 

 

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