New home sales make up 10% of the housing market with the other 90% coming from existing home sales.
According to a survey by the National Association of Home Builders, builder sentiment is at its highest level nearly a decade - the highest since November 2005. Builders reported better sales conditions and increased buyer traffic.
The median home price comes in at $292,700, an 0.3% increase from this time last year.
Experts estimate there is a 4.7 month supply of new homes still on the market. With concerns over a possible rate increase coming later this year - now is the time to buy!!