It was a case of good news, bad news as new home sales increased by 12.3% in September while prices dropped sharply from a year ago, the Census Bureau said on Wednesday.
Builders have been offering incentives such as mortgage buy-downs and additional upgrades to lure buyers as mortgage rates flirt with a level of 8% for a 30-year fixed rate loan.
Sales reached an annualized rate of 759,000 compared to a revised 676,000 in August. Economists had been looking for a number close to 680,000. September’s number was the highest since February 2022. The homebuyers are still looking for new homes. Make sure that they can find your sales centers and the homes available for sale quickly and efficiently. Read more on USNews.com
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