The sale of new homes spike 7.6% in May far exceeding expectations with the pace of new home sales reaching their highest levels since the home buyer tax credit back in 2010.
Home prices also rose in this category by 5.6% year over year to a median price of $243,500.
As inventory continues to be an issue both in existing a new home sales, some parts of the country are experiencing tremendous growth such as a 36.7% jump in new home sales last month in the Northeast.
These signs point to a slow but steady recovery for the housing sector as more and more potential home buyers are getting off the fence only to be faced with strong competition for a record low number of properties available.
About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
