Welcome to the DaybreakHouses.com Blog

2013-12-06 11:52:56
New Home Sales Increase in October!

new homes in daybreak

Good news for US Home Builders as the latest report shows a large increase in new home sales during the month of October. Locally, the opening of the newest model homes in Daybreak Utah, at Lake Village, provided new floor plans and lot choices for home buyers in South Jordan. There are some great options available of new homes for sale in Daybreak. Traditionally, the sale of new homes is slows down in the fall and winter months due to weather, so the October increase is great news for the state of the overall economy.

Here is the full article from the Associated Press, as printed in the December 5, 2013 Deseret News, with details on the new constructions sales boom.

WASHINGTON—Americans ramped up purchases of new homes in October after three months of soft sales, evidence that the housing recovery is improving fitfully.

Sales of new homes grew 25.4 percent to a seasonally adjusted annual rate of 444,000, the Commerce Department said Wednesday. That was the largest monthly percentage increase since May 1980.

But the increase came after sales had fallen 6.6 percent in September to a 354,000 annual rate, the weakest since April 2012. And sales in August and July were revised lower to 379,000 and 373,000, respectively.

Sales had slowed over the summer after mortgage rates rose sharply and a limited number of homes for sale boosted prices. The combination made home-buying less affordable.

New-homes sales have risen 21.6 percent higher for the 12 months ending in October. Still, the pace remains well below the 700,000 consistent with a healthy market.

'The report suggests sharp weakening through September and then a rebound in October, but the volatility in the data argues against putting much emphasis on a single month,' said Jim O'Sullivan, chief U.S. economist for High Frequency Economics.

Prices for new homes eased in October. They fell 4.5 percent to $245,800 from September and have declined slightly over the past 12 months.

The number of new homes available for sale was 183,000 in October. That's still relatively lean—at the August sales' pace it would almost take five months to exhaust the supply.

The Commerce Department delayed the release of the September sales figures because of the partial government shutdown in October. As a result, new-home sales for October and September were released on Wednesday, in addition to revisions for the two previous months.

Mortgage rates are nearly a full percentage point higher than the spring. Rates rose in May when the Federal Reserve first signaled that it might slow its $85 billion in monthly bond purchases. But rates have moderated from recent highs after the Fed decided to keep its bond buying intact.

The latest average rate on a 30-year fixed mortgage was 4.29 percent, which is still close to historic lows.

There are signs that builders are preparing for less growth. Approved permits to build single-family houses began to flat line in the spring, while spending on home construction spending fell 0.5 percent in October from September.

Though new homes represent only a fraction of the housing market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to National Association of Home Builders.

 

 
Blog Archive
2017-12-11 16:03:49
Daybreak Tiny Houses

2017-03-08 11:47:47
The Daybreak Community Enhancement Fee

2017-02-15 16:46:21
Daybreak Utah Homes Pictures

2016-11-22 12:38:48
Houses for Sale in Daybreak | Market Update

2015-11-19 14:44:57
What's in a Name? A Street Name?

2015-10-08 13:26:01
South Jordan Fitness Center - Halloween Pumpkin Pl

2015-09-09 12:10:04
Prepare Your Home for Fall 2015

2015-02-10 12:44:04
Inside Look at the Biltmore Estates!

2015-01-22 22:18:50
FHA Loan Update!

2015-01-18 16:32:50
Good to Know - Finding the Right Real Estate Agent

2015-01-16 10:13:33
Beautiful & Timeless Bathroom Remodels

2015-01-11 19:14:57
FAQ on Radon Levels in Utah

2015-01-08 17:10:21
Prevent Frozen Pipes in Your Daybreak Homes

2015-01-04 10:42:57
How to Create a Sports Themed Room

2015-01-02 16:34:45
Top Kid-Friendly Winter Activities near Daybreak

2014-12-24 12:34:51
Daybreak Bathroom Update

2014-12-18 15:49:03
How to Make Your Daybreak Home Photogenic

2014-12-10 20:34:51
How to Add Marsala to your Daybreak Home

2014-12-05 15:32:36
Low Inventory Levels in Daybreak Utah

2014-11-20 15:43:03
Winter Time House Hunting in Daybreak Utah

2014-10-28 11:30:53
Pick It Up, Don't Pass It Up!

2014-10-14 15:14:00
Road Trips around Utah from Daybreak

2014-09-29 15:48:40
Daybreak Holiday Decorations & Staging

2014-09-24 12:44:56
Staging Your Properties to Sell or to Rent

2014-08-19 11:59:47
Hydr-8 Bottles!

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.