Great News On The New Home Sales Front : The Real Estate Bloggers

Great News On The New Home Sales Front

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And it is not that new home sales are up 2.7 percent in September. It is that the inventory of new homes is declining. The less homes on the market the better for both home sellers and home builders. Inventory is our demon, not price.

The number of new homes for sale shrank to 394,000 units in September, down from 425,000 units in August. At the current sales pace, there was a 10.4 months’ supply of unsold new units on the market, versus an 11.4 months’ supply in August. Meanwhile, the median number of months that completed new homes have been on the market moved up to 9.1 - a new record. via NAHB news release

Related posts:
  1. Existing home sales rise 2% in August, 2005
  2. A Little More Good News - Home Sales In July Up Over Previous Month
  3. May 2007 Home Sales Figures Show Tough Real Estate Market Nationwide
  4. Home Sales Inch Up in March 2006 While Inventory Grows Quickly
  5. Was May’s Home Sales Report Good News?

There Is 1 Response So Far. »

  1. I couldn’t agree more. Getting the inventory down will help to stabilize and ultimately bolster housing prices. I had the same sentiments regarding the housing starts and building permit numbers released about ten days ago. These numbers were off significantly too and will undoubtedly help with these outrageously high inventory levels.

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