New home sales jump nationwide

Posted on Monday, June 11th, 2007 at 10:47am.

According to the latest information from the Commerce Department, new home sales jumped nationwide in April, increasing the most in the South. Across the country, sales of new homes leapt 16.2 percent, the highest increase in fourteen years. Whereas the Midwest experienced a four percent drop, builders in southern states enjoyed a 27.8 percent increase. Some analysts cited an accompanying drop in the median price of those same homes (an 11.1 percent decrease) as the cause for this movement in the new home market. According to their math, builders are trying to unload inventory before prices depress much further.

So, it sounds to us like, nationwide, residential real estate is growing into a strong buyer’s market, especially with builders holding inventory. Here in Austin, however, the market appears a bit more balanced. There are still strong opportunities for both sellers and buyers as the overall inventory is relatively stable. However, since builders read the same reports and articles that we all do, there might be some opportunity for buyers interested in newly built Austin homes from new home communities such as Belterra, Circle C, Avery Rnch and more. If you’re interested in those neighborhoods, give us a call at 512.300.0928 if you’d like to meet some of the builders doing great work there. We’d love to help you turn a national trend into the home you’ve always wanted.

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