Key Highlights
- Growth in new home sales is tied to population growth, according to CoreLogic
- New home sales growth was the highest in the South in 2019
- Cities in the South and the West led new home sales growth in 2019
- Metros with affordable houses, high employment rates and warm weather had highest growth in new home sales over 2019
CoreLogic just released its latest report on new home sales growth in 2019. New home sales grew the most in Southern and Western states that experienced the biggest population gains.
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- Texas experienced a population increase of 367,000 in 2019
- Florida’s population increased by 233,000
- Nevada and Idaho both had an annual population increase of +1.7% in 2019, the fastest rate of growth in the US
New home sales were the highest in the South during 2019
- Dallas – 32,000 new homes sold
- Houston – 31,000 new homes sold
- Atlanta – 18,000 new homes sold
- Phoenix 0 17,000 new homes sold
- Austin – 16,1000 new homes sold
- Orlando – 14,000 new homes sold
- Tampa – 12,000 new homes sold
- Charlotte – 12,000 new homes sold
- San Antonio – 11,000 new homes sold
- Washington DC – 9,500 new homes sold
New home sales growth leaders were in the South and West in 2019
- Port St. Lucie FL – 29% of all home sales were new homes
- Warner Robins GA – 28% of all home sales were new homes
- Ocala FL – 27% of all home sales were new home sales
- The Villages FL – 23% of all home sales were new home sales
- Sebastian FL – 22.8% of all home sales were new home sales
- Deltona FL – 22% of all home sales were new home sales
- Salem OR – 22% of all home sales were new home sales
- Huntsville AL – 22% of all home sales were new home sales
- Lakeland FL – 21% of all home sales were new home sales
- Midland TX – 20% of all home sales were new home sales
- Pensacola FL – 16.5% of all home sales were new home sales
- Coeur d’Alene ID – 15% of all home sales were new home sales
- Chattanooga TN – 14.8% of all home sales were new home sales
- Greenville SC – 14.8% of all home sales were new home sales
Keep in mind that typically, new home sales represent 10% of all home sales while existing home sales represent 90%.
Thanks to CoreLogic for source data.
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