New Home Sales Increased in August 2021

NAHB Notes Increase in Home Sales

According to the latest industry news from the National Association of Home Builders, new home sales edged higher in August. The article highlights reasons such as “strong demand, low interest rates and fewer existing homes for sale helped contribute to an uptick in new home sales in August even as home prices continue to rise.” When comparing data from July of this year, they saw sales of newly built, single-family homes rising 1.5% in August.

2020 was definitely a volatile year for many reasons. Then supply shortages in the earlier part of 2021 just when new construction starts to ramp up for the building season caused backlogs in most parts of the country. “Overall, we didn’t see much of a change here in the Midwest,” said Synergy Homes WI owner Steve Wamser. “Initially we did see an increase in supplies like lumber and other building materials, but our clients wanted to continue to push forward. Prices have come down somewhat and we hope to see things get back to normal as we finish out this year and move into 2022.”

NAHB showed that new home sales did fall slightly in areas like the Northeast and West, but in our neck of the woods, here in the Midwest new home sales rose 4.4%. We’re looking forward to increases in 2022 and beyond.

 

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