New home sales, which consist of newly-constructed homes, surged 7.9% on a monthly basis in January. The seasonally-adjusted annual rate of 764,000 units marked the highest level since July of 2007. This strong report is reflective of the increased level of confidence amongst home builders, who are looking to capitalize on the limited inventory of existing homes on the market.
Due to much milder temperatures than expected, the spring housing market is about to head into full swing, and an influx of homes are about to hit the market. If you are a current homeowner and you are looking to sell, now seems to be the perfect time to put your house on the market, to not only capitalize while inventory remains low, but to also take advantage of hungry home buyers looking to benefit from the ultra-low interest rate environment that we are currently in.
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Sources:
https://cnb.cx/2VvVZYH
https://on.mktw.net/3aeSfim
By: Jon Iacono
