Characteristics Of New Homes Built In 2014

There were 437,000 new homes sold (single-family) in the U.S. last year, down from a peak of 1,283,000 in 2005.  Roughly ten percent of the single-family homes sold were attached homes (44,000) and the remaining ninety-percent (393,000) were detached homes, according to data just released by the U.S. Census Bureau.

Facts and Figures For New Homes Sold In The Midwest During 2014:

(We work hard on this and sure would appreciate a “Like”)
See St Louis New Homes For Sale – Click HERE
Search St Louis Homes For Sale HERE
See ALL Homes That Will Be Open In St Louis This Weekend
Continue reading “Characteristics Of New Homes Built In 2014

St Louis New Home Sales In September Increase Slightly From Last Year

St. Louis new home sales in September 2014 increased 3.26% from September 2013 while the average St Louis new home sales price increased 10.97% during the same period, according to the latest data from Maris.

On a national level, new home sales in September 2014 were up 17% from September 2013 and in the Midwest region sales were up 6.7% during the same period.  The average new home sales price in the U.S. in September 2014 was $259,000, a 4% decline from a year ago when the average price was $269,800, according to the U.S. Census Bureaiu.

See St Louis New Homes For Sale – Click HERE

(We work hard on this and sure would appreciate a “Like”)

Screen Shot 2014-10-24 at 3.20.42 PM

Characteristics of New Homes Built in 2013

There were 569,000 new homes (single-family) completed in the U.S. last year. So what are popular features and finishes in new homes today? What does the “typical” new home have? Below is a summary of some of the characteristics of the new homes built in 2013 as detailed in a report by the U.S. Census Bureau:

See St Louis New Homes For Sale – Click HERE

(We work hard on this and sure would appreciate a “Like”)
Continue reading “Characteristics of New Homes Built in 2013

New home starts and completions in July down from June; Permits are up

house construction new home construction

This morning the US Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for July 2009 showing a slight increase in new home construction activity from June in the U.S.

For the Midwest region of the U.S. the report showed the following:

New home sales in Midwest increase a whopping 43.1% in June

Dennis Norman

Dennis Norman

This morning the U.S. Department of Commerce released a report showing the sale of New Homes in June were at a seasonally adjusted annual rate of 384,000, an 11% increase across the US from May.

However, here in the Midwest the numbers were significantly better showing a seasonally adjusted annual rate of 73,000 new homes sales in June, a 43.1% increase over Mays rate of 51,000 homes.  In addition, the Midwest was the only of region of the four in the U.S. that showed an increase in sales from the year prior.  In the Midwest, June’s rate is 5.8% better than June, 2008’s rate of 69,000 home sales.  The US market as a whole was down 21.3% from a year ago.

Median prices for new homes in the U.S. decreased from $221,600 in May to $206,200 for June. Homes in the $150,000 – $299,999 range continue to dominate sales with 56% of the sales for June falling in this price range.  The Commerce Department does not publish median home prices or inventories for the regions so we can’t look at the Midwest alone.

house-construction

Perhaps the best news in the report is on the inventory of new homes. Inventory declined again to 281,000 homes which represents an 8.8 month supply based upon current sales rate. This is the lowest inventory we have seen in a long time and is a very positive sign to me. Continue reading “New home sales in Midwest increase a whopping 43.1% in June