While sales of new homes didn’t meet predictions, they did continue to post gains in September. Sales of new single-family homes for the month hit an annual rate of 593,000, the Census Bureau and the Department of Housing and Urban Development reported last week. Sales were off from expectations of a 610,000-unit pace, but September’s transactions still marked a 3.1 percent increase over August’s sales, and were a whopping 29.8 percent higher than September 2015’s sales rate. Looking at price and supply, the median sales price of new homes sold during September was $313,500 and the average sales price was $377,700. The inventory of new homes for sale at the end of the month was 235,000, which represented a 4.8-month supply at September’s sales rate.“The housing market may not be booming but it is clearly moving forward at a steady pace,” Joel Naroff, chief economist at Naroff Economic Advisors told the Reuters news service. “But the big problem is still the lack of inventory.”
Author:Don Fleming Phone: 917-453-2505 Dated: November 1st 2016 Views: 36 About Don: Don Fleming has been practicing real estate for more than 10 years , with the primary goal to become...
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""Amanda Phillips did an outstanding job helping my wife and I sell our townhome. She was very helpful every step of the way. She organized and made appointments for getting the staging people to come in and tell us how to best stage our home. She also was very easy to get in touch with every time we had a question or needed to get in touch with her. She made sure to have our listing in all the right places to get maximum exposure which resulted in us getting multiple offers and having it sold in under a week. We were very happy with everything she did with helping us sell this home and with her help in finding and purchasing our new home. She has been made the whole experience as fun and stress free as possible and we can’t imagine going through it with anyone else. When we get ready to find a new home again she will definitely be our first choice in a real-estate agent.""