Unlocking Opportunities: The Surging Growth in New Home Sales!

Exciting news! New residential home sales are soaring once again, bouncing back from a recent slowdown. According to the Census Bureau, sales surged by a whopping 8.8% month-over-month to a seasonally adjusted rate of 693,000 units, marking the highest level since last September. What’s even more impressive is that sales increased across all four regions, with the Northeast leading the charge with a remarkable 27.8% jump from the previous month. Despite a decrease in pending sales in Cape Fear over the past year, there’s still plenty of positivity to celebrate. While some price ranges experienced declines, the overall median sales price rose by 2.5% to $399,900, with single-family homes showing a solid 2.0% price increase. Homes priced at $150,000 and below are flying off the market in just 36 days, demonstrating strong demand. And with inventory levels up by 18.4%, especially in the condo segment, which saw an impressive 54.5% increase, there are more options available for buyers. It’s an exciting time to be in the market!

Now may be the best time to sell your home! Call today to speak with an Essential agent! (910) 777-2700 or visit www.remaxessential.com.