Old Palm News - New home sales skyrocket nationally

New home sales skyrocket nationally

March 01, 2013

01. e exter. backyard fire pit 150x150

New home sales aren’t just strong at Old Palm Golf Club, they’re surging nationwide. According to the U.S. Commerce Department, in January new home sales jumped a staggering 28.9% from a year earlier, and there’s no sign that the momentum will let up. A recent article in the Wall Street Journal attributed much of the sales success to builders’ willingness to help buyers get home loans, often through in-house mortgage operations or government-backed mortgage programs that require little or no down payment. Builders have even hosted credit-counseling sessions for buyers with bad credit scores. Another reason that new home sales are so robust is that existing home inventory is low. According to the National Association of Realtors, the number of homes for sale is at its lowest level since December 1999. In response, builders have increased construction, which has positively affected the U.S. economy. While there’s no crystal ball to predict the future of real estate nationwide, all the indicators are pointing up. Read the Wall Street Journal Article: Builders Fuel Home Sale Rise  

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