Sales of new homes increased nearly 7 percent in April to a seasonally adjusted annual rate of 517,000, according to the U.S. Census Bureau.
New Homes Numbers Still Below Average
The new homes numbers are still below-average historically, but they are up 26 percent compared with April 2014. Plus, home builders were relieved that sales bounced back in April after slumping in March. U.S. building permits rose 6%, while housing starts rose 9% versus a year ago, not seasonally adjusted. Bloomberg's Josh Wright reports on "Bloomberg Markets."
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New homes, however, represent only a fraction of the housing market. Sales of existing homes fell 3.3 percent in April to a seasonally adjusted annual rate of 5.04 million, the National Association of Realtors reported recently. The good news is that existing home sales topped 5 million for the second consecutive month. Most real estate agents and brokers agree that sales could have easily been higher if more homes were on the market.
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This supply shortage, plus higher home prices, could spur demand for more new homes to be constructed.
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Keep up with Vero Beach new homes and new home sales by continuing to check our site daily for more news and information as it pertains to the sale of new homes and existing homes.
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Don't forget, we also post tips daily on Twitter and Facebook, sometimes pertaining directly to Vero Beach new homes. Find us there as well.
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