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Updated over 1 year ago on . Most recent reply

User Stats

16
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4
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Juan Alvarez
  • Contractor
  • Texas
4
Votes |
16
Posts

Is this the current trend in real estate sales?

Juan Alvarez
  • Contractor
  • Texas
Posted

New-home sales account for around 15% to 20% of all recent home sales and could reach 30% in some markets, compared with a historical average of 10%, according to Lawrence Yun, chief economist at the National Association of Realtors. What's your opinion on this?



Buying a Home From a Builder? What to Know First - WSJ

Most Popular Reply

User Stats

129
Posts
107
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Trevor Schmitt
  • Rental Property Investor
  • Fargo, ND
107
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129
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Trevor Schmitt
  • Rental Property Investor
  • Fargo, ND
Replied

New-home sales numbers are certain to rise due to the historically low inventory of existing homes on the market right now.

A majority of homeowners have an interest rate around 3% and are very reluctant to sell their home and enter the market as a buyer where they will be looking at a mortgage rate of at least 2x that amount. 

Because buyers who are in the market have little options when it comes to existing homes, they are turning towards building. 

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