New Home Sales Show Unexpected Increase in October 2009
New Home Inventory at Lowest Level Since 1971
The US Department of Commerce released surprising statistics today regarding new home sales across the nation.
October 2009 showed a 6.2% increase in new home sales versus September 2009.
October 2009 new home sales were also up 5.1% from October 2008.
This is the sixth time new home sales have risen over the past seven months, according to reports.
Additionally, new home inventory is now at record low levels.
There were 239,000 new homes on the market nationally at the end of October 2009.
This is a 6.7 month supply at current new home sales levels.
Available new homes are at their lowest level since 1971, according to Michelle Meyer, an economist with Barclays Capital.
Many builders are shying away from "spec homes" that may sit on the market, and instead are focusing on "building to order."
Homebuyers in the Raleigh area are sometimes surprised to find little standing inventory, and to hear that most new homes are selling at 95-100% of asking price.
Raleigh NC New Home Resources - Building a Home in Raleigh
Finding Your New Home in the Raleigh Area
Stanton Homes makes it easy! We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $200s to the $500s. Custom design build options available too!
Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today.
Articles copyright Stanton Homes 2006-2012. Unauthorized use is not permitted. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of any lot listings, but can work with homebuyers to purchase available lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.