Julie Campbell Home Mortgage Loans Brigham City Utah

Home Mortgage Loans

  • Home
  • About
    • About Julie
    • Privacy Policy
  • Mortgage Info.
    • First Time Home Seller Tips
    • First Time Home Buyer Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Interest Rates
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortagage Glossary
    • Mortgage FAQ
  • Apply
  • Blog
  • Contact Us
You are here: Home / Housing Analysis / New Home Sales Approach Bull Market Territory

New Home Sales Approach Bull Market Territory

December 28, 2011 by Julie Campbell

New Home Supply 2010-2011New home inventory is approaching bull market territory.

According to the Census Bureau, the number of new homes sold rose 2 percent in November. On a seasonally-adjusted, annualized basis, home buyers bought 315,000 newly-built homes last month.

November’s New Home Sales data marks the 4th straight month of rising sales volume, lifting the housing-market metric to a 7-month high, and adding to the housing market’s recent show of strength. 

Last week, we learned that Existing Home Sales also climbed in November.

The big story in the New Home Sales report, though, is the remaining new home supply nationwide.

With just 158,000 homes “on the market” and the pace of home sales hastening, the complete, national inventory of “new homes” would now be sold in just 6.0 months, a 0.2-month improvement from October. This is the quickest home sales pace in nearly 6 years for the new construction market. 

It’s even faster than in April 2010 — the buyer-deadline month of last year’s federal home buyer tax credit.

Home builders expect the trend to continue, too. Buyer foot traffic is on the rise and builders have a strong outlook for the next 6 months.

It’s an unsettling series of developments for today’s Hooper home buyers. As home supplies drop and builders gain confidence, the ability of an buyer to negotiate for price reduction and/or upgrades shrinks.

If you’re a home buyer in search of new construction, therefore, consider that the best new construction “deals” of the next 12 months may be the ones you find today.

Filed Under: Housing Analysis Tagged With: Census Bureau, New Home Sales, New Home Supply

Julie Campbell

Contact Julie

Loan Officer


Intercap Lending
Brigham City, UT
Call (801) 388-6732
Personal NMLS# 299573
Download the Homebuyer App

Connect with Me

How can I help?

  • This field is for validation purposes and should be left unchanged.

Perfect Listing Presentation

Categories

Quick Links

  • Accessibility Statement
  • Privacy Policy
  • Licensing
  • Complaints
  • About Julie
Equal Housing Lender
Intercap Lending NMLS# 190465
• nmlsconsumeraccess.org

Our Location


112 N Main
Brigham City, UT 84302

Copyright © 2023 · Powered by MySMARTblog