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New Home Construction Trends

tech <p>                                     <img alt="" src="https://s3.amazonaws.com/files.usmre.com/6217/blog/New-Home-Construction-on-the-Rise-Boosting-Builder-Confidence.jpg" style="width: 500px; height: 332px;"></p> <h3>3 Important New Home Construction Trends</h3> <h3>1.     New Home Sales is Historically Low.</h3> <h3 style="margin-left: 0.25in;">New homes sales are down 66%.  Last month, there were 4.82 million existing home sales compared to the 481,000 new homes sales, making that a ratio of 10:1.  Historically, the average is 6:1.</h3> <h3>2.     New Homes are Pricey.</h3> <h3 style="margin-left: 0.25in;">In the past year, the median new home price increased 13.14% to $294,300. In January 2005, new homes costing $199,000 or less made up 43.5% of the market and homes costing $400,000 or more made up 17.4%.  In the past month, new homes $199,000 or less made up 22.2% of the market and homes $400,000 or more made up 44.4% of the market, showing the dramatic increase in new home prices.</h3> <h3>3.     New Homes are Big.</h3> <h3 style="margin-left: 0.25in;">As the prices of new homes rise, so do their sizes.  In the past 10 years, newly constructed homes sized 3,000 square feet and above have gone from 19 to 31% of the market and homes of 4,000 square feet or more have almost doubled from 5 to 9%.</h3> <h3>These trends show that builders are aiming at the wealthiest consumers.  With a low number of home sales, builders have to have high prices, and for consumers to pay more money, they are going to want more expansive homes. </h3>

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