Over the last year the three-month moving average of new home sales has increased steadily as more housing markets begin to see rising home prices and better incentives for buyers. New home sales as a whole increased an astounding 5.7% to an annual rate of 389,000, the highest since 2010!
In Fact, in the month of October, pending home sales in the Northeastern United States have rose 1.4%. The pending home sales index is up 14.5 percent from September of 2011, reflecting the seventeenth consecutive month of year-over-year growth.
Wednesday-10/25/12- the Commerce Department released a report showing a growth in new home sales that was much bigger then expected. The increase in new home sales reflected strong sales growth in the South and Northeast regions, the nation’s largest housing markets. New home sales in the South increased 16.8% to an annual rate of 215,000.
Projections indicate that this trend in the housing market will continue over the upcoming months, as banks continue to drop mortgage rates and loans become more affordable. Buying now could save you tens of thousands of dollars that can be better spent on custom options for your home, or even a new hot tub for your deck!
With increasing numbers like this, the window to buy is quickly closing. Most builders are pulling their customer incentives and raising their home prices, but not Maronda~
Maronda is now offering up to $16,000 in customer incentives and closing costs in some communities around the Pittsburgh area! Pittsburgh is a growing city and is ranked in the top 20 U.S. cities for job growth.
Contact a Maronda Homes Specialist today through our Interactive Chat window to see a home near you today!