Sales of Newly-Built Homes Up Around 10 Percent

Newly built home sales are increasing Photo credit: Dept of Energy Solar Decathlon / Foter / CC BY-NC-ND


Newly built, single-family house sales reached a new high in January, with strongest sales results since July 2008.

In December 2013, 427,000 such units were sold. The seasonally adjusted statistics for January 2014 show 468,000. The reasoning for the increase is that it is partially due to the misses sales from December.

The January increase is seen as a great sign, since the sales went up despite the harsh winter conditions that froze much of U.S. economy. Home buyers were not obstructed by this, apparently.

The construction industry is still careful, though. There is a low supply of new homes and not that many easily available building lots, which makes the businesses wary of excessive optimism. The new homes inventory stayed at 184,000 units in January.

Read the source article at Mortgage News

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