US New Home Sales Surge to Highest Level Since May 2023
According to the latest data, new home sales in the United States have significantly increased, reaching the highest level since May of last year. This trend confirms a growing demand for residential properties, despite high mortgage interest rates and market instability. In July 2024, new home sales rose by 12.4% compared to the previous month, totaling 750,000 units, marking the highest figure since spring 2023.
Analysts attribute the rise in sales to several factors. Firstly, the limited supply of existing homes on the market plays a crucial role, as many homeowners prefer to hold onto their properties rather than sell them amid high inflation and interest rates. Secondly, a growing economy and active job market have boosted consumer confidence, which also increases interest in purchasing new homes.
Experts note that despite the positive news, high interest rates may still impact the housing market in the coming months. However, the current dynamics suggest that buyers remain optimistic and are willing to invest in real estate, even under the existing economic conditions. Meanwhile, builders are also beginning to increase the volume of new projects, which could help meet the rising demand.
Thus, the results of recent studies indicate not only an increase in sales but also a potential shift in trends in the housing market, suggesting the resilience of the real estate segment amid economic uncertainty.
