New Home Construction Shows Positivity Amid the COVID-19 Pandemic
Sales of Newly Built Homes Show Strength
Sales of newly built single-family homes recorded positive movement in April based on a report by the U.S. Department of Commerce and the United States Census Bureau.
Despite a 0.6% national gain from March to April, sales of newly built homes year over year are down 6.2% as the world navigates stay at home orders issued by local governments.
New Home Sales in the Northeast, Midwest, and West
New home sales were the strongest in the Northeast as recent home sales increased by 8.7%. Sales also gained momentum in the Midwest and South; however, new home sales fell by 6.3% in the West.
The Northeast is outpacing new home sales in the West.
What Happened To New Home Sales in Los Angeles?
Los Angeles County recorded 24 new single-family homes sold in April compared to 52 new homes sold during the same time last year.
New home sales are significantly down year over year as COVID-19 impacts real estate markets around the world. Beverly Hills’ most affluent 90210 zip code did not post any new single-family home sales in the Multiple Listing Service (MLS) April 2020.
Learn More About Your Local Market
New home sale numbers vary city by city. Whether you’re interested in sales data in Beverly Hills or would like information based on a little-big town like Cleveland, Ohio, contact Marc Anthony for custom data relevant to you at no charge.
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