{"id":17865,"date":"2020-09-30T11:30:46","date_gmt":"2020-09-30T11:30:46","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17865"},"modified":"2020-09-30T11:30:46","modified_gmt":"2020-09-30T11:30:46","slug":"new-home-sales-top-the-1-million-mark","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/new-home-sales-top-the-1-million-mark\/","title":{"rendered":"New-Home Sales Top the 1 Million Mark"},"content":{"rendered":"

New-Home Sales Top the 1 Million Mark<\/h1>\n
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Sales of newly built single-family homes in August reached their fastest pace since September 2006, the Commerce Department reported Thursday. They also attained another landmark: topping 1 million sales, to a seasonally adjusted annual rate of 1.01 million units. That marks a 43% jump when compared to last year.<\/p>\n

\u201cAlready, more new homes have sold in 2020 than did in all of 2019,\u201d says Danielle Hale, realtor.com\u00ae\u2019s chief economist. \u201cWith the number of existing homes for sale down consistently and considerably from a year ago, new homes are an important segment of opportunity for home shoppers.\u201d<\/p>\n

But inventory levels of both existing and new homes may be preventing sales from stretching even higher. Housing inventories of existing homes is down 18.6% compared to a year ago. New-home sales fell to a 3.3-month supply in August.<\/p>\n

\u201cMore construction is needed,\u201d NAHB Chief Economist Robert Dietz says. \u201cThe challenge will be whether material and labor are available.\u201d<\/p>\n

Higher lumber costs and the limited availability of building materials in some markets is leading to higher prices in new-home construction. Lumber prices are now up more than 170% since mid-April, adding more than $16,000 to the price of a typical new single-family home, according to the NAHB.<\/p>\n

The median price of a new home in August was $312,800. New-home sales were up on an annual basis in all four major regions of the U.S. The Northeast and Midwest each posted a 23.6% increase in August.\u00a0The South saw sales rise 13.9%,\u00a0and the West posted a 12.4% gain.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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National Association of Home Builders<\/a> and \u201cNew Home Sales Surge to Highest Level Since the Great Recession<\/a>,\u201d MarketWatch (Sept. 24, 2020)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

New-Home Sales Top the 1 Million Mark Sales of newly built single-family homes in August reached their fastest pace since September 2006, the Commerce Department reported Thursday. They also attained another landmark: topping 1 million sales, to a seasonally adjusted annual rate of 1.01 million units. That marks a 43% jump when compared to last … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17865","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nNew-Home Sales Top the 1 Million Mark - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/new-home-sales-top-the-1-million-mark\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sales-top-the-1-million-mark\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sales-top-the-1-million-mark\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"New-Home Sales Top the 1 Million Mark\",\"datePublished\":\"2020-09-30T11:30:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sales-top-the-1-million-mark\\\/\"},\"wordCount\":283,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sales-top-the-1-million-mark\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/new-home-sales-top-the-1-million-mark\\\/\",\"name\":\"New-Home Sales Top the 1 Million Mark - 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