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New Home Activity has a Decidedly Southern Drawl

Monday, June 1, 2015

The old adage might be "go West" but new home buyers aren't listening.  A recent analysis by CoreLogic shows that the strongest new home sales markets are overwhelmingly in the South, especially Texas and North and South Carolina. 

New home sales increased nationally in the 12 months ended in January by 3 percent but rose by as much as 17 percent in some fast growing southern metropolitan areas.  The region claimed eight out of 10 of the markets where the sales increase was the greatest compared to the same period a year earlier, led by Nashville the 17 percent gainer.  One of the two big increases outside of the South was in San Jose (the other was Portland, Oregon, in eighth place) where new home sales rose 14 percent.

 

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