Tax Deductions for Homeowners: How the New Tax Law Affects Mortgage Interest Tax changes for 2019 change the landscape for homeowners. Tax season is upon us once again, and to make it even more
Home Sales Are Going Up
Dated: 10/10/2018
Views: 129
New Home Sales Up 12.7% From Last Year
![]() According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July). The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The summer months are often a busy time for builders as they capitalize on the warmer weather to be able to finish projects. Below is a table showing the change in starts, completions, and sales from last August. Other notable news from the report is that the percentage of new construction sales in the $200-$299k range has continued to break away from the $300-$399k range. This shows that builders are starting to build lower-priced homes that will help alleviate some of the inventory challenges in the starter and trade-up home categories. The chart below shows the full breakdown. What does this mean for buyers and sellers?If you are thinking of buying or selling in today’s market, you no doubt have heard that there is a shortage of existing homes for sale which has been driving home prices up across the country. The additional new construction coming to the market could help alleviate this shortage, but we are still not back up to pre-crisis levels. SOURCE: KEEPING CURRENT MATTERS |

Marianne Page - DRE 01447929
I have been working as a realtor in Riverside since 2004. As a dedicated professional, I implement plans and strategies along with strong negotiating skills and an extensive marketing plan to get your....
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