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$224,000
Imperial Harbor
Courtesy of MVP Realty Associates LLC
2 BEDS2 BATHS1248 SQFTShare this Property -
New$2,150,000
Bonita Bay
Courtesy of John R Wood Properties
3 BEDS3 BATHS2642 SQFTShare this Property -
New$279,900
Cypress Plantations Condo
Courtesy of BHHS Florida Realty
2 BEDS3 BATHS1119 SQFTShare this Property -
New$1,200,000
Bonita Bay
Courtesy of Premier Sotheby's Int'l Realty
3 BEDS2 BATHS2112 SQFTShare this Property -
New$589,000
Estero Bay Shores
Courtesy of Sabella Realty Inc
2 BEDS1 BATHS1212 SQFTShare this Property -
New$340,000
Imperial River
Courtesy of Mato Realty, LLC
3 BEDS2 BATHS1223 SQFTShare this Property -
New$1,399,000
Bn08 - East Of Us41 South Of Ter
Courtesy of Royal Shell Real Estate, Inc.
4 BEDS3 BATHS2414 SQFTShare this Property -
New$449,000
Bonita National Golf And Country Club
Courtesy of Dellatore Real Estate Company
2 BEDS2 BATHS1122 SQFTShare this Property -
New$690,000
Worthington
Courtesy of Boke Real Estate Group, LLC
2 BEDS2 BATHS1760 SQFTShare this Property -
New$330,000
Bermuda Park
Courtesy of Douglas Elliman Florida,LLC
2 BEDS2 BATHS1404 SQFTShare this Property -
New$369,000
Bn10 - East Of Old 41 South Of S
Courtesy of Compass Florida, LLC.
2 BEDS2 BATHS1402 SQFTShare this Property -
New$50,000
Bonita Springs
Courtesy of Marzucco Real Estate
1 BEDS1 BATHS808 SQFTShare this Property