Jan
06

New Homes Sales Rise in November

January 06, 2013

chicago new home sales2012 certainly went out with a bang when it came to new home sales! Sales of new single-family homes increased by 4.4 percent in November, bringing the annual total of new home sales to 337,000, according to the U.S. Census Bureau and United States Department of Housing and Urban Development.

“New-home sales are gradually picking up momentum as the economy improves,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB). “Prospective home buyers who have been sitting on the fence for years are moving back into the market due to continuing low mortgage interest rates, attractive pricing and the improving economy.”

In the local market, sales of new homes in Chicago have been increasing in several suburban communities such as Wheaton, Naperville, Elmhurst and Woodridge.

“We’re projecting a total of about 365,000 new-home sales in 2012, an increase of almost 20 percent over the previous year,” said David Crowe, NAHB Chief Economist. “The year ahead will see a similar gain as more people who have been sitting on the sidelines decide that it is time to purchase a new home.”

The inventory of new homes also increased slightly in November to 149,000 units.

Here’s hoping that these numbers remain high in early 2013!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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