New Home Sales Rose 15.8 Percent in April

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Sales of newly built, single family homes rose 15.8 percent in the South according to newly released data by the U.S. Department of Housing and Urban Development and U.S. Census Bureau.  New home sales rose 16.6 percent across the Country which is the highest sales pace since January 2008.

“Builders remain optimistic about the housing market, and this month’s jump in new home sales is a positive sign that growing demand will keep the housing sector on an upward trajectory through the spring buying season,” said National Association of Home Builders Chairman Ed Brady.

The inventory of new homes for sale was 243, 000 in April, which is a 4.7 month supply at the current sales pace.  Inventory below six months is considered a seller’s market.  The median sales price of new houses sold in April was $321,000.

Epic Development is currently building in Grant Park, Northwest Atlanta (Riverside), Old Fourth Ward and Sandy Springs.  For more information, visit http://www.epicdevelopment.com/available-homes/ or contact Scott Eaves at (404) 518-3820.

2017-08-29T17:44:10+00:00 May 31st, 2016|Economic News|