The United States housing market is seeing rising levels of inventory issues, a situation that has lead to an increase in new home sales in recent years. As 2020 comes to a close, the U.S. Census Bureau and Department of Housing and Urban Development recently reported a growth in new home sales much higher than initially predicted.
The success of new home sales appears to be due to the efficiency of the builders involved, who have managed to weather the storm of higher mortgage rates and worse market conditions. Through improved budgeting and strategy, builders have been able to efficiently sell their homes and capitalize on the current housing market conditions. This is further proof of the resilience of the U.S. housing market, which is continuing to grow despite present uncertainties.
Key points:
• U.S. housing market seeing inventory issues
• New home sales have been increasing yearly
• U.S. Census Bureau and Department of Housing and Urban Development report higher than anticipated growth in new home sales
• Builders adapting their strategies to efficiently sell homes despite higher mortgage rates
• Resilience of housing market evident, showing growth despite uncertainties
You can read this full article at: https://www.housingwire.com/articles/new-home-sales-grown-even-with-higher-mortgage-rates/(subscription required)
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