USA Today reports from government sources that June 2009 new home sales rose 11% from May of this year. This data could be an indicator that the US housing market is rebounding. Inventories of new homes for sale fell from 10.2 months supply in May 2009 to 8.8 months in June 2009. New home inventories have not been at this level since October of 2007. The June sales figures made this the third month in a row of higher sales for new homes and it was the best sales pace for new homes since November of 2008.
Government reports showed that new home prices continued to decline 12% from the previous year. This price decline is an advantage for current home buyers since they get more home for their money. Other positive aspects working in favor of today’s home buyers are; the $8,000.00 first-time home buyer tax credit and the low mortgage interest rates available today. These unique market conditions coupled with shrinking new home inventories could see new home prices reverse their trend and costs could begin to increase in the months ahead.
With all these factors in play, there might never be a better time to purchase a home or real estate for investment. Call The Jason White Team today to begin exploring various real estate options that match your needs and fulfill your dreams of owning property in the Great Smoky Mountains area.