Real Estate Outlook: New Homes Sales Increase

by Carla Hill

The recent blizzard may have temporarily slowed sales across much of the United States, but newly released figures from the U.S. Commerce Department reveal that new home sales are on the rise.

Newly built, single-family home sales rose 17.5 percent in December. This impressive gain was thanks in part to an unexpectedly strong rise in the Western region.

Regionally, the West saw a 71.9 percent gain in December, though according to the National Association of Home Builders (NAHB) and their chief economist, David Crowe, “Sales in the West may have gotten a boost from contracts being signed ahead of costly building code changes going into effect in some states this January.” Crowe noted that issuance of building permits was also up substantially in that region at the end of the year.

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About dherries
Dave and Sally Herries and The RealtyColorado Team - Real Estate Broker serving the metro-Denver area. Offering properties in urban, sub-urban and rural areas. Our mission statement is "Enriching lives through real estate."

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