NEW HOME SALES CLIMB

Dated: 11/02/2016

Views: 91

Image title

NEW HOME SALES CLIMB 3.1% IN SEPTEMBER


Sales of new single-family houses in September came in at a seasonally adjusted annual rate of 593,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. The rate was 3.1% above the downwardly-revised August rate of 575,000 and 29.8% above the September 2015 estimate of 457,000.


 



Three of four regions reported month-to-month gains, with the Northeast rising 33.3% to a seasonally adjusted rate of 32,000. The Midwest and South picked up 8.6% and 3.4%, respectively. The West was the only region that saw sales slump over the course of last month, dropping -4.5% to 147,000. All regions made significant gains compared to a year ago, with the Northeast leaping by 60%, the largest improvement year-over-year.


 

The median sales price of new houses sold in September 2016 was $313,500, up from $293,800 in August and $307,600 a year earlier. The seasonally adjusted estimate of new houses for sale at the end of September was 235,000, representing a supply of 4.8 months at the current sales rate.

New homes priced from $200,000 to $299,999, and from $300,000 to $399,000 were the most popular price ranges for September, each accounting for about 29%, of total new homes sold in last month. These two price ranges also saw a huge sales bump year-over-year, as more people are buying homes priced in the middle-tier. Home sales between $500,000 and $749,000 gained some momentum in the past year as well, signaling an uptick in the luxury, higher-end home market. In contrast, sales of affordable, entry-level homes continued to decline, due in part to the tight inventory for more affordable homes seen across the board.


Search  affordable homes for sale in Bluffton just click here. 


Carletha M. Frazier Singleton, Real Estate Broker 

eXp Realty Hilton Head

843-227-0054

Latest Blog Posts

Bluffton Real Estate Market Report December 2017

Here is a look at the Bluffton Real Estate Market for December 2017. According to a report released by the Hilton Head Area Association of Realtors and the local MLSA Look at the Housing StatsThe

Read More

Deadline For Appealing Coastal Setback Regulations

Heard great news from Nick Kremydas, CEO of the South Carolina Association of Realtors, recently regarding the setback lines for rebuilding on the coast.  Nick was the keynote

Read More

Coming Soon 47 Woods Bay Bluffton SC

Coming SoonSearch Bluffton Homes For SaleAll Bluffton HomesBluffton Homes Under $200KBluffton Homes Under $300KBluffton Homes Under $400KBluffton Home Under $500KBluffton Homes Under $600KBluffton

Read More

Home Energy Awareness

Home Energy AwarenessAfter the mortgage payment, the largest homeowner expense is for utilities and the major component is energy. Contributing factors include air leaks, insulation, heating and

Read More