Homebuilders sales were up in a big way in June 2020.
A CNBC article discusses the rise in new home builds for June – they report that sales of newly built homes jumped 55% annually in June 2020.
The article notes that this was the largest annual gain since homebuilding began again after the housing crash last decade, and that it was the highest pace since the pinnacle of the 2005 US housing boom.
The results came from a monthly survey by John Burns Real Estate Consulting. The owner of the company, John Burns, believes this big jump is due to COVID-19. With many workers working from home during the pandemic, people may be finding they can live further away from their offices, but then also want “smart homes” with technology to support working from home.
Home builder confidence is usually an important indicator in how a real estate market is faring. High homebuilder confidence usually tends to be good for the real estate market in general.
I will note that real estate is very local, and sometimes things can differ even just streets from each other, so your local real estate market may not show the same signs as another one.
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