In a recent post by Builder Metro-Study, January 2015 home sales for new single-family homes were reported to be at an annual rate of 481,000. These estimates by the U.S. Census Bureau also report that this is 0.02% below the December rate of 457,000. How do these numbers effect the home sales prediction for the rest of 2015?
The U.S Census Bureau has very small sample numbers in its reports, but despite this inaccuracy, the trends in their reports still remain quite true. The first quarter salesdepicts a strong demand, one that is estimated to continue this year. Based on Metro-Study in-field studies, they have noticed that builders are preparing for an increase in production this year. It appears that many lots are reaching development stages and are ready for the builders to move in. In fact, this number has doubled in some markets over the past few years. Furthermore, home builders are not having trouble filling this demand for new homes. By targeting entry-level buyers and keeping the price under $200,000, ready buyers are eager to move in.
With the lot development on the rise and home buyers waiting eagerly, the first quarter home sales analysis is a trend that is predicted to continue throughout 2015.