{"id":5499,"date":"2017-07-27T00:00:00","date_gmt":"2017-07-27T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-are-high-but-they-could-be-higher\/"},"modified":"2017-07-27T00:00:00","modified_gmt":"2017-07-27T00:00:00","slug":"new-home-sales-are-high-but-they-could-be-higher","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-are-high-but-they-could-be-higher\/","title":{"rendered":"New-Home Sales Are High, But They Could Be Higher"},"content":{"rendered":"

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New-home sales inched up 0.8 percent in June, but sales would be higher if there were more new homes to sell. Sales of newly built single-family homes reached a seasonally adjusted annual rate of 610,000 units in June, according to a joint report released by the U.S. Census Bureau and U.S. Department of Housing<\/a> and Urban Development.<\/p>\n

\u201cWhile new home inventory rose slightly in June, it remains tight as builders face lot and labor shortages and increases in building material<\/a> costs,\u201d says Michael Neal, senior economist at the National Association of Home Builders.<\/p>\n

\n

Existing-Home Sales Report: Home Sales Dip as Buyers Get ‘Tripped Up’<\/p>\n<\/blockquote>\n

The lower price ranges are seeing some of the tightest inventory supply. Only about 2,000 new homes under $150,000 were sold in June, according to the report. About 6,000 homes were sold in the $150,000 to $199,999 price range. There was an uptick in the $200,000 to $299,000 price range at about 19,000 new homes sold in June, which is up from 15,000 a year ago.<\/p>\n

The greatest number of new homes were sold in the South in June.<\/p>\n

But the most sales on the rise last month were in the West. New-home sales rose in June by 12.5 percent month over month in the West and by 10 percent in the Midwest. Sales were unchanged in the Northeast in June, and dropped by 6.1 percent in the South, according to the Census and HUD report. \u00a0<\/p>\n

New homes remain significantly pricier than existing homes. New home buyers likely will pay about 17.8 percent more than if they purchased a previously lived-in home.<\/p>\n

This\u00a0rings true even though new-home prices did slow down last month. The median price of a newly built home dropped nearly 4.2 percent in June month over month to $310,800. Prices are down nearly 3.4 percent from a year ago. Meanwhile, the median existing home price<\/a> reached a record in June at $263,800.<\/p>\n

Despite June\u2019s modest new-home sales gain, sales overall remain up nearly 11 percent since the beginning of 2017, according to the NAHB.<\/p>\n

Source: National Association of Home Builders and \u201cNew-Home Prices Are Down: Get One Before They Sell Out,\u201d realtor<\/a>.com\u00ae (July 26, 2017)<\/em><\/p>\n<\/div>\n

Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New-home sales inched up 0.8 percent in June, but sales would be higher if there were … New-Home Sales Are High, But They Could Be Higher<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5500,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,15239,12908,543,215,248,127,258,204,41,818,479],"class_list":["post-5499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-chase","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homes","tag-new-home","tag-new-homes","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/regional_nhs_jun17.png?fit=620%2C255&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6415,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-supply-up-but-not-enough\/","url_meta":{"origin":5499,"position":0},"title":"New-Home Supply Up, But Not Enough","author":"Amazing Property","date":"September 27, 2017","format":false,"excerpt":"Sales of newly built single-family homes did little to break out at the end of summer. New-home sales plunged 3.4 percent in August to a seasonally adjusted annual rate of 560,000, the lowest sales reading since December 2016, the Commerce Department reported Tuesday. 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But builders remain upbeat and are quick to point out that\u00a0sales are still near a post-recession high, regardless of the latest drop.\u00a0 Sales of newly built, single-family homes dropped 1.5 percent in\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Regional Nhs Apr18.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/regional_nhs_apr18.png?fit=600%2C247&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/regional_nhs_apr18.png?fit=600%2C247&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/regional_nhs_apr18.png?fit=600%2C247&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7271,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-surge-to-10-year-high\/","url_meta":{"origin":5499,"position":3},"title":"New-Home Sales Surge to 10-Year High","author":"Amazing Property","date":"November 28, 2017","format":false,"excerpt":"Sales of new single-family homes jumped 6.2 percent in October to a seasonally adjusted annual rate of 685,000 units, the Commerce Department reported Monday. This marks the highest pace for new-home sales since October 2007. \u201cThe October report shows strong sales growth at entry-level price points,\u201d\u00a0says Granger MacDonald, chairman of\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Regional Nhs Oct17.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/regional_nhs_oct17.png?fit=600%2C247&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/regional_nhs_oct17.png?fit=600%2C247&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/regional_nhs_oct17.png?fit=600%2C247&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3867,"url":"https:\/\/amazingproperty.com.ng\/blog\/buyers-rushing-toward-new-construction\/","url_meta":{"origin":5499,"position":4},"title":"Buyers Rushing Toward New Construction","author":"Amazing Property","date":"April 26, 2017","format":false,"excerpt":"Sales of newly built single-family homes increased for the third consecutive month, posting a strong showing to the spring selling season, the Commerce Department reported Tuesday. Single-family new-home sales rose 5.8 percent in March to a seasonally adjusted annual rate of 621,000 units. \u201cThe March sales numbers are the second\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2442,"url":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-jump-6\/","url_meta":{"origin":5499,"position":5},"title":"New-Home Sales Jump 6%","author":"Amazing Property","date":"March 24, 2017","format":false,"excerpt":"Sales of newly built single-family homes posted a robust month in February. New-home sales rose to a seasonally adjusted annual rate of 592,000 units, up 6.1 percent month over month and 12.8 percent ahead of last year, the Commerce Department reported this week. Read more: Buyers Are Being Drawn to\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=5499"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/5500"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=5499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=5499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=5499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}