According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, strong demand, low taxes, and low-price existing real estate helped raise new homes in August as prices rose. Sales of new homes rose 1.5% in August to 740,000 homes per year compared to the number of residents in July 2021. Activity grew by 2.4% per year.
“New home builders will get stronger in late summer after the usual colder winters,” said Chuck Fowke, president of the National Home Builders Association. “The prospect for builders remains strong and demand for housing is supported by low prices and low house prices.”
“After the 2020 revolution, with major spring field battles and unrest in the second half of the year, new homes have collapsed.” NAHB head coach Robert Dietz said. “House prices have increased by 20% per year due to rising construction prices, and this price increase is damaging buildings when the economy arrives. From year to year. “
A seller of a new home is created when the contract of sale is signed when the contract is approved. The house is located on every building platform: unfinished, built, or finished. In addition to the time variable, there are about 770,000 homes in August that could be sold if the price continues over the next 12 months.
Inventories are in the normal 6.1 month supply chain, selling 378,000 detached houses, up 74.3% from August 2020. As the index grows, even more houses need to be built. In August 2021, 28% of new housing projects included prefabricated houses, up from 21% last year.
The selling price was $ 390,900, down from July to August, but up 20% from last year to $ 355,000 in retail sales due to high returns including food and beverages.
Locally, new homes fell 1.0% in the Northeast and 2.3% in the West but stood at 4.4% in the Midwest and 4.5% in the South.