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Hughes Shelton Group | Tampa Luxury RealtorsHughes Shelton Group | Tampa Luxury Realtors

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Hughes Shelton Group
Hughes Shelton Group
Thursday, 27 February 2020 / Published in General, Investors, News, Real Estate

New-Home Sales Climbed 7.9% in January

U.S. sales of new homes jumped 7.9% in January to the fastest pace in more than 12 years, a positive sign for economic growth.

The Commerce Department said Wednesday that new homes sold at a seasonally adjusted annual rate of 764,000 last month. That’s the highest sales rate since July 2007, shortly before the U.S. economy slumped into the Great Recession.

Half of January’s sales gains came from people buying homes that have yet to be constructed, possible evidence that low mortgage rates may be driving their decisions to purchase. Borrowing costs for home loans have tumbled since 2018.

But a shortage of properties on the market means that prices are also rising quickly. The median price of a new home surged 14% from a year ago to $348,200.

The Associated Press, Josh Boak.

 

Tagged under: Home Sales, Housing, new construction, Real Estate, Sales
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  • A Historic Bayshore Home with Ties to the Lykes family, One of Tampa’s Wealthiest Dynasties, is Now For Sale
  • Home on South Tampa’s Sunset Park waterfront has sold for $5.45 million
  • Water Street Tampa, More Than Two Years and 5 Million Square Feet into Vertical Construction, Takes Shape as a Mini City
  • Florida and Tampa home values projected to outpace much of the US by 2030
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3615 Bromley Grand Ave.
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Hughes Shelton Group is a team of real estate agents affiliated with compass, a licensed real estate broker and abides by equal housing opportunity laws. all material presented herein is intended for informational purposes only. information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. no statement is made as to accuracy of any description. all measurements and square footages are approximate. this is not intended to solicit property already listed. nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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