According to the National Association of Home Builders, sales of new single-family homes posted gains in May for the third consecutive month, rising 2.1 percent.
"Builders are reporting increased demand for new homes as buyers seek to take advantage of historically low mortgage rates while they remain so favorable," says Rick Judson, National Association of Home Builders chairman. "Consumers in markets nationwide are definitely becoming more confident about making a home purchase as firming prices and tighter inventories provide further evidence of the ongoing housing recovery."
With inventory also rising, Crystal Coast homebuyers and sellers are becoming increasingly confident that now is the time to take advantage of the real estate market. The economy is improving and economists are predicting more increases ahead as housing likely remains a consistent driver of growth this year.
Although spurring housing price increases, the tight inventories that came to define the housing market in previous months are now lifting and in turn, have urged the construction of more homes. According to Realtor Magazine, builders began work on more than one million homes in March, again highlighting that buyer confidence is on the rise.
Are you ready to count yourself among the Crystal Coast homeowners and purchase a Coastal Carolina property? Let's chat to discuss your wants, needs, and options and move forward to act on your real estate goals.
Gena Gilbert
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