Housing News
New home sales up in all regions, inventory at historic lows
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Joe Loomer
May 25, 2011 at 5:16 am
While new homes inventory has remained static around the 800 mark in our area, their portion of sales has increased sharply – drastically impacting owner-occupied (non-distressed) resales – which now only account for 40% of sales in the Greater Augusta-area. Good for the builders, but bad for re-sellers.
Navy Chief, Navy Pride
Dan Boyle
May 25, 2011 at 2:07 pm
I'm seeing all kinds of evidence that the bottom is solidifying. Here's a little more. Me likes it.
MH for Movoto
May 25, 2011 at 4:25 pm
Good stuff, of course. But it's relative.
Lucy
May 27, 2011 at 9:24 am
That's great that they're up 2 months in a row and that it's the highest they've been in 5 months, but isn't April historically higher than the preceding 5 months? Were April sales up year over year?
cha
May 28, 2011 at 9:00 am
A positive sign for the home builders. But we still have a very long way to go for them as they face tough competition from foreclosures.
Kevin Hughes
May 29, 2011 at 5:15 pm
We are experiencing multiple offers in almost every price range now. As distressed properties get cleared out of the inventory- who are our new sellers going to be? Most mom and pop homeowners cannot afford to sell so new construction is likely to be the beneficiary of pent up buyer demand.