Home Sales

Sales of newly constructed homes were higher than expected, according to reports from the Department of Housing and Urban Development and the Census Bureau.

In October, sales of newly constructed homes rose by 5.6%, and even so, we were still 17.7% above sales from the previous year. With this information, the consensus among real estate professionals is not very concerned about a market downturn next year.

If interest rates drop in 2024, there will be a significant possibility of an increase in sales of new homes, and more homes will be put up for sale.