Why does new home sales rise despite higher mortgage rates?
U.S. new home sales rise despite higher mortgage rates
Americans shrugged off higher mortgage rates and snapped up new homes in February at the fastest pace since July.
The Commerce Department says new home sales rose 6.1 percent last month to a seasonally adjusted annual rate of 592,000. That is nearly 13 percent higher than a year ago.
Builders have ramped up the construction of new homes, which helps meet strong demand and boosts sales. That could provide a crucial lift to the overall housing market: The supply of existing homes for sale has dwindled, preventing many potential buyers from purchasing homes.
There were 266,000 new homes for sale last month, the most since July 2009 – a month after the recession ended – and up nearly 10 percent from a year earlier.
Source: Florida Realtors
-
New$375,000
Bonita Springs
Courtesy of Align Right Realty SRQ Opulenc
2 BEDS1 BATHS959 SQFTShare this Property -
New$349,900
Vanderbilt Lakes
Courtesy of John R Wood Properties
2 BEDS2 BATHS1377 SQFTShare this Property -
New$1,050,000
El Dorado Acres
Courtesy of William Raveis Real Estate
4 BEDS3 BATHS2704 SQFTShare this Property -
New$739,000
Bn05 - Pelican Landing And North
Courtesy of John R. Wood Properties
3 BEDS2 BATHS2000 SQFTShare this Property -
New$1,950,000
Barefoot Beach
Courtesy of John R Wood Properties
3 BEDS2 BATHS1726 SQFTShare this Property -
New$649,900
Seasons At Bonita
Courtesy of MVP Realty Associates LLC
3 BEDS2 BATHS1764 SQFTShare this Property -
New$490,000
Sun Village Estates
Courtesy of MVP Realty Associates LLC
4 BEDS3 BATHS2470 SQFTShare this Property -
New$669,000
Bonita Bay
Courtesy of Royal Shell Real Estate, Inc.
3 BEDS2 BATHS1674 SQFTShare this Property -
New$835,000
San Remo
Courtesy of Downing Frye Realty Inc.
4 BEDS4 BATHS2685 SQFTShare this Property -
New$750,000
Palmira Golf And Country Club
Courtesy of Compass Florida LLC
3 BEDS2 BATHS1989 SQFTShare this Property -
New$980,000
Bn04 - Bonita Bay
Courtesy of John R. Wood Properties
3 BEDS3 BATHS2117 SQFTShare this Property -
New$816,000
Valencia Bonita
Courtesy of Premiere Plus Realty Company
2 BEDS2 BATHS1963 SQFTShare this Property