RISMedia | Jesse Williams
New-home sales, which have been up and down this year after experiencing historic surges post-pandemic, saw another major jump in July, according to the U.S. Census Bureau, rising a blistering 10.6% from the previous month and 5.6% from a year ago as buyers flocked to new builds against the backdrop of economic and interest rate uncertainty.
But economists don’t necessarily expect the trend to continue, as an influx of existing homes and an overall increase in supply tips the balance of home sales back toward historic norms, where existing homes are cheaper and make up the vast majority of sales.
Continue Reading: New-Home Sales Pop, but Experts see Deeper Shifts
