New Home Sales Increase for April 2013

New home sales for April 2013 reach second highest levels since 2008

by Myles Biggs

Yesterday, new data released by the Census Bureau and the Department of Housing and Urban Development showed that new home sales in April climbed to an impressive 454,000 homes; a remarkable 20% increase from the year-ago estimate of 352,000 new homes. These numbers represent the second highest levels since the summer of 2008.

As mortgage rates continue to hover near historic lows, new home sales should also continue to increase. Other factors such as increased employment rates, income growth and stock market gains will also positively affect these numbers.

As we continue towards the summer months, and the prime home building season, the demand for housing should continue to increase. If the supply of available homes continues to remain tight, many home owners will choose to build, instead of buy their new home.

If you are a home owner interested in moving into your new custom home as fast as possible, the advantages of modular construction may be the answer to your building questions.

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