Key Highlights

– March sales volume exceeded all forecasts
  • New home sales jumped +20.7% in March

Rebound of New Home Sales in March

March 2021 new home sales reflected the optimistic spring weather that arrived.  Purchases of new single-family homes jumped +20.7% from February’s sales volume to a 1.02M annualized pace.

This new home sales jump was the highest level since 2006, according to a survey by Bloomberg.

New-home sales represent approximately 10% of the housing market nationwide.

Residential Construction Also Picked Up

Construction of single-family homes mirrored this uptick in new home sales. The number of new homes scheduled to be built also rose to the highest pace since September 2006.

Home Prices Continued to Climb

 

Along with sales volume, new home prices surged to record highs.  The median price of a newly constructed home increased to $330,800 compared to last year during March.

At the pace of sales in March, existing supply of new single-family homes would have lasted 3.6 months compared with the February pace of 4.4 months. The National Association of REALTORS® indicated that the supply of existing homes in March hit a record-low of just 18 days.

Regional Sales Volume Up in March

This soaring increase in sales volume of new-homes came just a month after February’s challenging weather dampened sales activity.

The South had the largest monthly increase, +40.2%, of new-home sales in 40 years.  Sales volume also climbed in the Midwest and Northeast.

 

Thanks to the National Association of REALTORS® and Bloomberg.

URGENT: 2021 Results Released. New FREE On-Line Web Event Reveals 17 Surprising Secrets Of The Top 100 Millionaire Agents. Get Your FREE Spot For The On-Line Webinar Now. When You Attend This Event You Will Have A Sense Of Relief Knowing You Can FINALLY Laugh At Your Money Worries – If You Follow This Simple Plan. Learn How To Generate 100’s of Motivated Leads Without Coming Off As A Pushy Salesperson and Losing Your Soul. Learn Now How To Become One of the 1000s of Agents Making HUGE Money NOW Who Never Thought They Could.



P.S. Limited Space Available. 235 Spots Left.

[mashshare]