Today’s market is a seller’s market. But despite the best conditions in years, fewer homeowners are listing their homes for sale. That’s led to a lower-than-normal number of existing homes available on the market. It’s also led to a new homes market sales surge.
New Homes Market Sees Sales Surge
In fact, according to new numbers from the U.S. Census Bureau and the Department of Housing and Urban Development, March saw a 20.7 percent increase over the previous month. That far exceeded economists’ expectations and pushed sales almost 67 percent higher than last year – when the coronavirus had buyers temporarily sidelined. It’s encouraging news, especially when combined with recent data showing both building permits and housing starts up from the month before. The new home market is booming and, if builders can keep up with demand, it should help relieve upward pressure on home prices. It should also give current homeowners more options and some motivation to sell. Click on the following link for more information.
Here at A1 Mortgage, we know how important it is to choose the right house for you and your companion. We have the responsibility to provide you with the best products and the highest level of customer service possible. With hundreds of loan programs available, we tailor a loan specific to your mortgage needs. So come get pre-approved and start shopping for your dream home by clicking here!