New Home Sales jumped nearly 16% in January to
437,000 units annually versus December and improved a whopping 29% above January
of 2012 339,000. This was the highest level since July 2008.
The New
Home Sales report shows the number of newly constructed homes with a committed
sale during the month. It is compiled through nationwide survey of 10,000
builders/owners of 15,000 building projects and through sampling of
permit-issuing offices, as well as land not covered by building permits. The
data is timely and is used in conjunction with the existing home sales release
from the National Association of Realtors. The level of new home sales indicates
housing market trends, and economic momentum signaling consumer purchases of
furniture and appliances. Simply, the volume of sales indicates housing
demand.
Shawn Kaplan is an active & Licensed loan officer with Legacy Mutual Mortgage. Email Shawn at Shawn.Kaplan@LegacyMutual.com or a member of his team anytime for more information or a consultation!
(615) 426-3182
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