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New Home Sales Surge

by Christie Cannon



New Home Sales Surge | Keeping Current Matters

According to the latest report from the US Census Bureau and the Department of Housing and Urban Development, newly constructed home sales jumped 5.7% month-over-month and 21.6% year-over-year to an annual pace of 552,000.

Many buyers are looking to the new homes market to make up for the lack of existing home sales inventory. National Association of Home Builders Chief Economist David Crowe explains:

"Today's report indicates the release of pent-up housing demand as the overall economy strengthens, consumer confidence grows and mortgage interest rates remain low. The housing market should continue to move forward at a modest but more persistent pace throughout the rest of 2015."

Regionally, the Northeast led the way with a 24.1% increase in new home sales, followed by the South (7.4%) and West (5.4%). Sales in the Midwest declined by 9.1%.

The inventory of new homes for sale currently sits at a 4.7-month supply down slightly from July (4.9) and significantly from August 2014 (5.4).

Buyers who purchased a new home were willing to spend more to get the amenities that they wanted. The median home price for new homes was $64,000 higher thanexisting homes in August at $292,700!

Approved applications for building permits increased 3.5% over July and 12.5% over this time last year. Permit applications are seen as a strong indicator of builder confidence in the market.

Bottom Line

Buyer demand continues to outpace inventory of homes for sale. If you are thinking of selling your house this year, now may be the time to list before builders have a chance to replenish the supply of new homes.

The U.S. Soccer Federation Hall of Fame coming to Frisco, TX

by Christie Cannon

Frisco TX recently cleared the way for the a new home for the US Soccer Federation's Hall of Fame.  Included in a $39 million renovation, the National Soccer Hall of Fame may have found a new home in Frisco TX.  The National Soccer Hall of Fame & Museum has been "homeless" since closing in NY in 2010.  The Toyota Stadium complex already draws well over 1 million visitors per year.   The latest renovations are designed to better prepare the venue for NCAA Football & other high profile events.  The announcement is expected on October 14th. 

Frisco TX - Named among fastest growing economies

by Christie Cannon

WalletHub names Frisco TX in their top cities that have expanded rapidly in socioeconomic terms from 2008 to 2014.

Source: WalletHub

Existing Home Sales Slow Against Tight Inventory

by Christie Cannon

Based on the National Association of REALTOR's latest September numbers, the pace of home sales has slowed; however, the year over year gains continue for the 11th month.

Displaying blog entries 1-4 of 4

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Photo of Christie Cannon Real Estate
Christie Cannon
Keller Williams Realty
4783 Preston Road #300
Frisco TX 75034
469-951-9588
972-215-7747
Fax: 214-853-4774

Keller Williams Frisco - Christie Cannon - http://www.christiecannon.com