2019 New Home Sales Up 3.8% Year-Over-Year
Even with the sales numbers for new homes for sale during May, 2019, not all in, an annualized report of new home sales shows a 3.8% increase, year-over-year of new home sales. Because many different firms only look at sales numbers through the lens of how they compare to the previous month’s sales, the reports of new home sales growth slowing have been inaccurate when taken into account of adjusting for seasonal fluctuations and year-over-year numbers.
In 2018, two things affected new home sales – the increases in interest rates throughout the year and a slight stock market “bear market” which slowed down the economy overall. The beginning of 2019 shows a boost after the
slowdown, and it also doesn’t show any signs of wavering throughout the rest of the year according to Forbes.com economic contributor John S. Tobey (click here to read the article).
The seasonal adjustments account for the slowdown of new home sales throughout the winter – this is a consistent annual occurrance. It is Tobey’s opinion that home buyers “postponed” the purchase of their new home to wait for better housing market conditions. He also anticipates double-digit growth rates towards the end of 2019’s home buying season.
Locally, in St. Tammany Parish, Louisiana, local home builders enjoyed enormous turnout for the 2019 Parade of Homes. Also, local builders have also seen tremendous and growing interest in home buyer contacts to build new homes and fully custom homes in Mandeville, Covington, and Madisonville. Ron Lee Homes has been inundated with interested home buyers, partially as a result of the Parade of Homes. We welcome you to Contact Us for your home building needs to sit down for a consultation to discuss your options. Call 985-626-7619 or Email [email protected].
