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
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New$423,000
Spanish Wells
Courtesy of Dellatore Real Estate Company
2 BEDS2 BATHS1500 SQFTShare this Property -
New$509,000
Village Walk Of Bonita Springs
Courtesy of DomainRealty.com LLC
2 BEDS2 BATHS1534 SQFTShare this Property -
New$439,000
Cordera
Courtesy of MVP Realty Associates LLC
3 BEDS3 BATHS2033 SQFTShare this Property -
New$315,000
Little Hickory
Courtesy of John R Wood Properties
2 BEDS2 BATHS1231 SQFTShare this Property -
New$489,000
Spanish Wells
Courtesy of Premiere Plus Realty Company
3 BEDS2 BATHS1705 SQFTShare this Property -
$525,000
Bn12 - East Of I-75 South Of Cit
Courtesy of Downing-Frye Realty Inc
2 BEDS2 BATHS1534 SQFTShare this Property -
$1,599,999
Bn05 - Pelican Landing And North
Courtesy of John R. Wood Properties
3 BEDS4 BATHS3295 SQFTShare this Property -
$579,900
Bonita Bay
Courtesy of Premiere Plus Realty Company
3 BEDS2 BATHS1311 SQFTShare this Property -
$1,575,000
Bonita Bay
Courtesy of Barefoot Beach Properties
3 BEDS3 BATHS2616 SQFTShare this Property -
$1,700,000
Bn06 - North Bonita East Of Us41
Courtesy of Tampa Luxury Real Estate Group Inc
5 BEDS3 BATHS3115 SQFTShare this Property -
$335,000
Highland Woods
Courtesy of Compass Florida LLC
2 BEDS2 BATHS1232 SQFTShare this Property -
$349,000
Highland Woods
Courtesy of Compass Florida LLC
2 BEDS2 BATHS1042 SQFTShare this Property