New Home Sales Reach EightYear High In June

Dated: 08/04/2016

Views: 448


Image title


As the economy and job market continues to improve, new home sales are increasing across the country. According to the Associated Press, Americans bought new homes in June at the fastest pace in more than eight years.


Last week the Commerce Department said that new-home sales rose 3.5 percent last month to a seasonally adjusted rate of 592,000, the best level since February 2008. Purchases of new homes have climbed 10.1 percent year-to-date, despite volatile sales on a monthly basis.


The Commerce Department data also indicated:


  • Low mortgage rates and a healthy job market have lifted residential real estate.

  • Greater demand and tight inventories have led to rising prices and signs that housing will help overall economic growth.

  • Affordability remains a problem and the potential of new-home sales returning to their historic average sales rate of 650,000 could be limited.


The market for new houses is roughly just a tenth of the size of the existing-home market, where sales are also rising even as the number of listings are shrinking on a yearly basis.


Whether you’re looking for a new property or an existing home, there are more options in Denver than you may think. Contact Metrowest today to discuss your needs – we’d love to work with you!

Chris Jenkins

"Chris has a background in the financial services industry where he has brokered over $15B in receivables and is a frequent author and event speaker. He has been a licensed broker and real estate inv....

Latest Blog Posts

Central Park Development In Highlands Ranch Focusing On Health And Wellness

While it happened more by accident than by design, many of the retail stores in the highly-anticipated Central Park Development are health and wellness-oriented – perhaps not a huge shock as the

Read More

Neighborhood Spotlight Castle Rock

While it’s experienced a tremendous amount of growth over the past several years, Castle Rock has somehow managed to keep that small-town feel. With a variety of independently owned shops,

Read More

Pace Of Resale Price Gains Slowing In Denver

For six consecutive months, year-over-year average gains in home-resale prices across metro Denver slowed slightly in July from the previous month's pace. However, the average resale prices in

Read More

20 Best Places For Families In Colorado

Washington, D.C.-based financial analyst site, Wallethub, recently released its report on the 20 best places to raise a family in Colorado, and you may be surprised at some of the contenders. The

Read More