New-Home Sales Jump 26 Percent

According to a recent report issued by the Commerce Department, sales of new single family homes jumped 26 percent in October from the previous month’s rate. At a seasonally adjusted annual rate of 444,000 new homes, this is also an impressive 26 percent increase from October 2012.

  There are a few likely reasons for the surge in new home sales. A low inventory of existing homes for sale is one major factor prompting prospective buyers to search for new homes, as well as increased consumer confidence from this year’s stock market gains. Plus, financing may have become easier for buyers taking advantage of builders’ year-end specials and lowered mortgage rates.

  Think you’d like to consider purchasing and customizing a new home? We have plenty of local agents specializing in new home construction, and we’d love to hear from you! Give us a call at  215 699 5555  or send us an email at hello@everyhome.com