New Home Sales Up 25.4% in June!
Butler, Warren, and Clermont counties lead the Cincinnati area in new home development. These are the areas that have the most undeveloped land and where the largest volume of building is taking place. This year is on pace to be the best year for local new housing construction in a decade, with a total of 1,297 single-family permits issued through June in Butler, Clermont, Hamilton, and Warren counties, compared to 1,087 in 2015, a 17.7 percent overall increase.
Source: Keeping Current Matters
According to the latest Census Bureau Report, sales of newly constructed homes soared to new heights in June to a seasonally adjusted rate of 592,000. This marks the highest annual rate in 8 years.
Trulias Chief Economist, Ralph McLaughlin had this to say:
New home sales jumped sharply in June, and marked the best month since February 2008. This is a continued sign that demand for homes remains solid and aptly reflects increasing homebuilder confidence.
Sales have been climbing consistently over the last six months as shown in the graph below.
One of the many reasons why many homeowners turn to the new homes market to find their dream home is due to the lack of existing homes for sale. As we have mentioned before, buyer demand is outpacing the supply of homes for sale at record rates.
If you are a homeowner who is debating listing your home for sale this year, now may be the time. Meet with a local real estate professional who can help you take advantage of the buyers that are ready, willing and able to buy in your area.Return to Blog