In April, the median sales price of new homes was $235,700, an increase of 4.9% in the last year. Nationally, the average sales price was $282,600, according to a new survey by the U.S. Census Bureau and the Department of Housing and Urban Development.
While sales are doing better nationally, different regions of the country have had varying success. In the south, new home sales have decreased dramatically by 10.6%. The Northeast experienced the highest increase at 7.7%. Both the West and Midwest regions experienced boosts as well, at 27.5% and 28.2% respectively.
Challenges still lie ahead in real estate, but sales are improving dramatically and the market is picking up momentum.
Jeff Mateja is the CEO/REALTOR at Universal Properties at Keller Williams Realty in Portland, Maine, and founder of ILovePortlandMaine.com, a blog about everything Portland, Maine, and beyond. Jeff also offers two premier home search tools for Buyers via FindPortlandHomesNow.com and FindMaineHomesNow.com. If you would like further information on any blog topics, please e-mail Jeff Mateja.
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