New Homes Sales Increase at a 6-Year High in May, 2014
With a standing home inventory of 4.5 months, the home industry nationwide had an incredible month in May of 2014 where all regions checked in with an increase in new homes. The Northeast showed an increase of 54.5% which was the highest home sales increase in the United States, the West followed next at 34% and the South showed a 14.2% increase in sales. The only region which showed only a slight increase was the Midwest at 1.4%
Nationwide, new home sales increased by 18.6% to an amount of 504,000 new construction, single-family homes. Builder surveys 
conducted by the National Association of Home Builders and Wells Fargo have been announcing positive trending market attitudes by builders in the United States which showed an upward outlook for the real estate industry as the midpoint of 2014 approaches. The National Association of Home Builders in conjunction with Wells Fargo performs a nationwide survey of its builder members to determine the status of the housing market according to the builders’ attitudes towards it. Their results are published each month in the NAHB/Wells Fargo Housing Market Index (HMI). There are 3 factors by which the HMI gauges builder confidence – current sales conditions, prospective buyers, and expectations for future sales. The good news is that results in April, 2014 showed that 2 out of the 3 factors were above 50 (considered good by builders) with current sales conditions at 51 and futures sales expectations coming in at 57. These numbers were reflected in May’s phenomenal new homes sales increase, the highest increase since May, 2008.
Ron Lee Homes, a builder in St. Tammany Parish in New Orleans, Louisiana, has been “feeling” the positive trends of the local and national housing market because of the sheer number of new home and new, custom home projects on which we have been working since the middle of 2013. We have completed numerous projects in all areas of St. Tammany Parish – Covington, Mandeville, Madisonville, and Abita Springs – and have had many testimonials from our wonderful new home buyers. The housing market is skyrocketing, and our business is so busy, we have been keeping meticulously tight deadlines and timelines in order to manage our customers’ expectation. To start your new home or new custom home project on the Northshore, Contact Us Today at 985-626-7619 or E-mailing [email protected].
