Homebuilders are undoubtedly benefitting from the shortage in the supply of existing homes for sale. Property sellers are benefitting too as they can sell their properties at higher prices. The average price of a newly built home is now at $321,100, up 9.7 percent year-over-year to the highest level on record.
Springfield, VA -- (SBWIRE) -- 07/07/2016 -- Good news for US homebuilders as the National Association of Home Builders announced earlier this June that sentiment in US homebuilding increased two points to 60 (with any figure above 50 tagged as a positive sentiment).
This obviously entails growing traffic and more buyers committed at their job sites. But as an effect, builders are eventually feeling now the surging problem of having shortages in buildable lots and labor.
The result for this month is considered as the highest since the start of 2016 with all three indexes showing gains. Sales conditions grew to one point to 64 with a whopping sales projections towards the end of the year increased five points to 70. Another notable performance indicator is buyer traffic that elevated three points to 47 (though still considered as an element in negative territory).
With the mentioned numbers, this season is obviously the perfect time for property selling given the rising home sales and an improving economy. It can be noted as well that the housing market is seen to continually grow towards the end of the year given especially that HMI determining sales projections is now in succession at an eight-month high all affirmative factors.
Homebuilders are undoubtedly benefitting from the shortage in the supply of existing homes for sale. Property sellers are benefitting too as they can sell their properties at higher prices. The average price of a newly built home is now at $321,100, up 9.7 percent year-over-year to the highest level on record.
Wondering how to take advantage of this glorious moment for the real estate and know how to sell your house? Let Express Homebuyers do that job for you!
About Express Homebuyers
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Contact:
Brad Chandler
PR and Marketing @ Express Homebuyers
Phone: 877-804-5252
Website: http://www.expresshomebuyers.com