Some Good Housing News, but….

Concurrent to the news from the Census Bureau, LinkedIn reports from Realtor Magazine the median sale price of new homes rose 2.6 percent in May over April, to $222,600.  This marked the first time in six months that number has risen.  The normal markup of new homes over existing homes for sale is 15 percent, but that number is now 30 percent.  The inventory of new homes is at 166,000, its lowest recorded level.  Regionally, compared to April, sales of new homes fell over 26 percent in the Northeast, and 3.5 percent out West.  The South saw a gain of 2.4 percent, but in the Midwest new home sales were flat.


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