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01 18, 2017
2017-01-18
US Home Market
Internet Real Estate
US New Home Sales - Total of 563k new homes were sold in 2016 in the USA!
US real estate sales of new single-family homes closed out the year at the fastest pace since before the 2008 financial crisis. New home sales in December 2016 went to an annual rate of 536k units, seasonally adjusted, which is near the same sales compared one year earlier. This is the highest real estate growth since 2007 when nearly 800,000 new homes changed owners.
The median real estate sales price for new houses sold in December was USD 332K, up from USD 309K in November 2016.
The NAR on Tuesday reported a 2.8 % decline in the real estate sales of existing homes in December, attributed in part to rising mortgage rates, although sales for 2016 still set a 10-year record.
The real estate industry with 40K potential new home buyers would be priced out of the market while up to 850K would see costs rise. Is this a real broadcasts or real estate propaganda; the future will show.