{"id":7271,"date":"2017-11-28T00:00:00","date_gmt":"2017-11-28T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-surge-to-10-year-high\/"},"modified":"2017-11-28T00:00:00","modified_gmt":"2017-11-28T00:00:00","slug":"new-home-sales-surge-to-10-year-high","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-surge-to-10-year-high\/","title":{"rendered":"New-Home Sales Surge to 10-Year High"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"43.27895392279\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"35.752179327522\"><!--paging_filter--><\/p>\n<p class=\"rtecenter\"><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2017_nov\/regional_nhs_oct17.png\" style=\"width: 600px; height: 247px;\"\/><\/p>\n<p>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 the National Association of Home Builders. \u201cIn markets where builders are able to provide homes for families with different household budgets, they can fulfill a growing demand for <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">housing<\/a>.\u201d<\/p>\n<blockquote readability=\"5\">\n<p><strong>Price Points of New Construction<\/strong><\/p>\n<ul>\n<li>Less than $200,000:<br \/>\u00a0\u00a0 13 percent of new homes<\/li>\n<li>$200,000-$399,999:<br \/>\u00a0\u00a0\u00a0 53 percent<\/li>\n<li>$400,000-$499,999:<br \/>\u00a0\u00a0\u00a0 17 percent<\/li>\n<li>$500,000 and higher:<br \/>\u00a0\u00a0\u00a0 17 percent<\/li>\n<\/ul>\n<\/blockquote>\n<p>The Northeast saw the largest uptick in new-home sales in October, jumping 30.2 percent month over month and nearly 65 percent year over year. The Midwest posted a 17.9 percent monthly increase in October, while sales rose\u00a06.4 percent in the West and 1.3 percent in the South. Overall, new-home sales are up nearly 9 percent from a year ago.<\/p>\n<p>\u201cIt\u2019s pretty good news. Sales are up pretty strong,\u201d\u00a0says Danielle Hale, <a href=\"https:\/\/amazingproperty.com.ng\/blog\/estate-agents-nearby\/\">realtor<\/a>.com\u00ae\u2019s chief economist. \u201cHomeowners can potentially trade up to a new home and put their current home up for sale. That would increase the number of existing <a href=\"https:\/\/amazingproperty.com.ng\/blog\/homes-for-sale-near-abijo-in-lekki\/\">homes for sale<\/a>.\u201d The inventory of new homes for sale was 282,000 in October, which is a 4.9-month supply at the current sales pace.<\/p>\n<p><em>Source: National Association of Home Builders and \u201cLooking for a Newly Constructed Home? You Have Good Timing,\u201d realtor.com\u00ae (Nov. 27, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n<p><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/OwSqZopji5k\/new-home-sales-surge-10-year-high\"> Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales of new single-family homes jumped 6.2 percent in October to a seasonally adjusted annual rate &hellip; <a title=\"New-Home Sales Surge to 10-Year High\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/new-home-sales-surge-to-10-year-high\/\"><span class=\"screen-reader-text\">New-Home Sales Surge to 10-Year High<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7272,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_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}},"categories":[4],"tags":[62,12908,543,215,248,3051,127,557,617,344,258,204,569,1007,41,818,479],"class_list":["post-7271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-for-sale","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homeowner","tag-homes","tag-homes-for-sale","tag-house","tag-housing","tag-new-home","tag-new-homes","tag-new-homes-for-sale","tag-owners","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\/11\/regional_nhs_oct17.png?fit=600%2C247&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7271","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=7271"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/7272"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=7271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=7271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=7271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}