New-home sales worldwide remain way below past averages, but there are pockets of strength across the country, mainly in the South, like in the Carolina and Texas.
Eight of the ten fastest rising new-home sales markets are located in the US South. The fastest growing New-Home Sales Market is Tennessee, where new home sales have risen 17 % year-over-year. Meanwhile, Texas has the highest new-home sales share worldwide, where 22 % of all sales were new construction, compared to 8 % across the country.
Looking forward, southern real estate markets with strong demographic increase will display robust new home sales activity. In many of the remaining metros with solid job growth, the reality of the very low list of unsold new homes, declining vacancy and rapid price appreciation will lead to more building in the next few years that will lift many more markets above their present new home sales trajectory.
Following ten markets had the maximum new-home sales:
✹Charlotte-Concord-Gastonia, North Carolina. - South Carolina.
✹Charleston-North Charleston, South Carolina.
✹Jacksonville, Florida.
✹El Paso, Texas
✹New Braunfels, Texas
✹Orlando-Kissimmee-Sanford, Florida.
✹Colorado Springs, Colorado.
✹Raleigh, North Carolina.
✹Houston, Texas
✹Austin-Round Rock, Texas
The following are the ten markets that have seen the highest new-home sales growth in the past year
✹San Antonio-New Braunfels, Texas
✹Atlanta- Roswell, Georgia.
✹Greenville-Anderson-Mauldin, South Carolina.
✹Miami-Miami Beach, Florida.
✹Nashville-Davidson-Murfreesboro, Tennessee.
✹North Port-Sarasota-Bradenton, Florida.
✹San Jose -Santa Clara, California.
✹Portland-Vancouver-Hillsboro, Oregon
✹Fort Worth-Arlington, Texas
✹Jacksonville, Florida.
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