All Regions Reporting Increase in New Home Sales in October
Until now, most reports coming out of Washington D.C. showed “spotty” surges of new home sales increases across the United States. However, despite October’s report coming after the government shutdown, all 4 regions in the U.S. showed a percentage of increase in new home sales. In fact, not only did they post increases in these regions, but all regions posted double-digit increases: Northeast: 19.2%, Midwest: 34%, South: 28.2%, and West: 15.2%. Even though the government also reported a 6.6% decline in new homes sales in September, 2013, sales of just completed new homes rose, overall 25.4% to bring the total of sold new and custom homes to 444,000. The supply of new homes on the market moved downward to be adjusted to 183,000, and the supply of new homes on the market went down to just a 4.9 month’s supply.
“The October sales numbers show that there is clearly a demand for new housing and the recovery remains on track,” said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. “However, the recovery continues to be slowed by political uncertainty in Washington and ongoing constraints builders face with regard to tight credit conditions for consumers and the availability of labor, lots and materials.”
That has been the mantra of representatives of the National Association of Home Builders – “labor, lots, and materials.” Typically builders would be jumping all over the chance to SUPPLY new home buyers with the new or custom homes that they would like to purchase, but across the country, there has been an increase in the cost of materials due to higher fuel costs and rising prices on food and necessities as well as a shortage of labor in the form of contractors, sub-contractors, and those who typically would be moving the demand for materials across the country.
However, here in St. Tammany Parish, our Conservation Community, Bedico Creek Preserve is experiencing no such shortage of either labor or lots. With 6 Neighborhoods from which to choose and a list of qualified St. Tammany Parish builders, buyers of new homes, custom homes, and semi-custom homes have their pick of land to buy and homes to build. There are even builders who are building spec homes in the form of semi-custom homes and garden home properties. To find out more about Bedico Creek Preserve, call 985-845-4200 or e-mail [email protected].
