Home | Newsletter | Advertise
loading...

New Home Sales Jump to Almost 5-Year High

  • February 26th 2013

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

New Home Sales Jump to Almost 5-Year High: Figure 1

In yet more optimistic news for the housing market, the Commerce Department reported Tuesday that January sales of new single-family homes reached its highest level in four and a half years.

New home sales increased by almost 16 percent between December and January, reaching a seasonally adjusted rate of 437,000 units annually. The Commerce Department reported that it was the largest month-over-month percentage increase in 20 years.

As home sales increase, inventory continues to hover at or near record lows. From the Commerce Department:

The supply of new homes for sale was unchanged last month at 150,000. That’s barely above August’s total of 143,000 – the smallest supply of new homes on records dating back to 1963. At the current sales pace, it would take just 4.1 months to exhaust the number of new homes for sale, the lowest in eight years.

The new home sales news comes right on the heels of Case-Shiller’s report Tuesday morning that home prices rose 7.3 percent nationally over the last year.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/new_home_sales_jump_to_almost_5-year_high/6713.

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse