New Home Sales Up in the US

What does this mean for you?


According to an article recently published by the St. Louis Post Dispatch, new home sales are at their highest level in almost nine years.  The Commerce Department says that new home sales went up 12.4 percent last month, taking them to their highest level since October 2007.  The article credits this trend to a combination of low mortgage rates and a steady job market, and in fact, the demand for new homes has surpassed the supply of new homes available for purchase.  This trend, while certainly a good sign for the economy, doesn't, at the surface, do much for the American who is looking to sell their current home.  However, perhaps it can imply a few things, even for those unaffected.  

If you are looking to sell your home in the near future, now may just be the right time to do so.  There are plenty of people out there looking for homes, as this report clearly states.  This report also highlights the fact that right now, the real estate market is hot... very hot.  Even though this article is about demand being very high for new homes, that doesn't mean that there is only the demand for brand-new homes in the real estate market right now.  The surge of new home sales is indicative of the healing happening to the economy post-recession, and that serves not just one aspect of real estate, that serves all.  At the very least, the article can give sellers a little bit of insight into the market and their choices right now.  It's worth noting that The Linda Frierdich Group has had tremendous success with buyers and sellers, and know that you can always give us a call (618.444.4255) to get our opinions about the current market.

 

"US new-home sales climb to best level since late 2007," Josh Boak. 23 August 2016.

http://www.stltoday.com/business/us-new-home-sales-climb-to-best-level-since-late/article_d94e222f-1d8c-5ee4-b392-66e68995879a.html