A new story from online publication, Mortgage News Daily, reports that new home sales are on an encouraging an upward trajectory, with this fall showing a marked increase from the month of August. This is especially bright news, since summer is generally considered prime selling season, but Mortgage News Daily’s report indicates that no such slowdown occurred in the transition to autumn. In fact, sale numbers for new-build properties are up by both monthly and yearly measures.
According to the Census Bureau and Department of Housing and Urban Development, new-build residential properties were up 3.1% from August. Moreover, year-to-year September sales leapt by a 29.8% margin — an astounding and nearly unprecedented level of growth. Closer to home, the mid-west enjoyed a particular bump in new construction home sales during the early fall, with an 8.6% seasonal increase and a year-to-year increase of a whopping 33.3%. Furthermore, at the end of the September, an astonishing 243,000 new homes were on the market, with 141,000 more under construction.
What does this mean for those looking to buy or sell a home in the Twin Cities region this fall or winter? Firstly, an increase in new-build homes is a meaningful development for those on the house hunt, since inventory has been competitive here in the Minneapolis area. Likewise, home sellers can list their property with confidence that the next home of their dreams is readily available, brand new, and made financial feasible by this year’s exceptionally low mortgage interest rates. What’s more, a boost in the mid-west’s new-build sales indicates overall growth in the region, making purchasing a home a wiser investment than ever.
It’s no secret that life here in Eden Prairie is an enviable one, especially since Money Magazine’s recent feature of our hometown as one of the country’s most desirable places to live. Development is assuredly on the rise in the Twin Cities region, and what better way to spend the holidays than in a brand new home of your very own?
At Helgeson Platzke Real Estate Group we take pride in helping members of our community find and purchase their dream home. No matter your needs, budget, or tastes, there’s a perfect property for you and your loved ones. There’s no better time than the present to make it happen. Make your holiday wishes come true and take the plunge—become an all-American homeowner in Eden Prairie today.
At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.