Data presented by Buy Shares indicates that the United States’ new home sales annual rate has grown by 108.45%. The growth was recorded between 2010 and 2020.
Homes sales spear amid pandemic
The highest sales were recorded this year at 697, 542 as of September 28th, a growth of 2.9% from last year’s 677,386. Over the last decade, the lowest sales were registered in 2011 at 309,853, a drop of 7.40% from 2010’s 334,624.
From the data, it is clear that the new home sales have been rising despite the economic uncertainties. According to the research report:
“The rise in new home sales is a good indicator considering that the United States real estate market was among the worst hit by the coronavirus pandemic. The high sales show a rising momentum as the economy continues to recover from the pandemic.”
The research also overviewed the sales relating to the existing homes where the annual rate jumped by 128%. From the data, the highest sales were recorded this year at about 1.3 million. Last year, the figure stood at 1.2 million. The lowest sales were recorded ten years ago at 577,774.
An overview of the new home median sale price shows a spike of 46.96% The existing home median sale price had a growth of 62.08%. In 2020, the new home sale median price was $332,560, while ten years ago the figure stood at $219,484. On the other hand, the median sale for existing homes stands at $280,134 while ten years ago, the price was $174,843.