Tuesday, March 4, 2014

New Home Sales

Despite the difficult winter weather and poor economic predictions, January's new home sales reached its highest level in more than 5 years!

Consumer confidence remains stable, home prices are increasing as inventory decreases and interest rates remain at historic lows.

Economists predicted a 6% drop in new home sales for January and were pleasantly surprised to see the increase especially after some brutal snow and ice storms kept many people home.

The south experienced a 10% increase in new home sales. See the chart below for more detail on the rise and fall of home sales and the upward trend we are pleased to be on.