Summer is known for being busy in real estate because it’s an ideal time to move, but even still, the housing market seems to be improving; for proof, just take a look at the numbers from May’s new home sales. According to the National Association of Home Builders sales of new single-family homes went up considerably in May compared to months prior. New-home sales rose to around $369,000 which is a 7.6% increase from April and an impressive 20% improvement over 2011!
A national drop in mortgage rates could be a factor in this equation. Lending costs and interest rates are so low right now that home buyers don’t feel as at risk when purchasing a new home. As a real estate agent working with us, you can encourage these newly gutsy buyers with tools like our Mortgage Center! There, your clients can get “pre-approved” and use one of our many mortgage calculators to start a dialogue with you about how much their monthly mortgage payments might be on any given home.
These numbers are still a bit lower than we’d like, but they do show promise in the market growth. And, in case you’re curious, the National Association of Home Builders reports that the boost in sales happening mostly in the Northeast and Southern regions of the country. So, if you’re an agent in those areas, make sure to take advantage!