SEPTEMBER NEW-HOME SALES UP 46.9% YEAR OVER YEAR (Builder Magazine)

SEPTEMBER NEW-HOME SALES UP 46.9% YEAR OVER YEAR (Builder Magazine)

Zonda’s New Home Pending Sales Index (PSI) posted more positive news in September. The indicator, which measures the number of new-home sales contracts signed across the country, grew to 170.7 last month, showing 2.7% month-over-month and 46.9% year-over-year increases and continuing the momentum of the ‘super V’–shaped housing recovery.

Economists have continually noted that the work-from-anywhere shift combined with seriously low mortgage rates and an improving economy all bode well for the housing market.

“The U.S. economy flipped from a service-based economy to a goods-based economy and, right now, the most desired ‘good’ is a new home,” says Ali Wolf, chief economist at Zonda. “New-home sales are unstoppable even as builders raise prices and election uncertainty heats up.”

More: https://www.builderonline.com/money/economics/september-new-home-sales-up-46-9-year-over-year_o?utm_source=newsletter&utm_content=Article&utm_medium=email&utm_campaign=BP_102620&

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