A joint report by the U.S. Census Bureau and U.S. Department of Housing and Urban Development shows the number of buyers closing on newly-built homes went up 18.9 percent from August to September of this year, up 17 percent from September 2016, per the report's seasonally adjusted numbers.
The greatest increases in new-home sales are in the Northeast, Realtor.com reports. September's number of new-home closings is 33.3 percent over August's figures and 54.8 percent over new-home closing numbers in September 2016.
Part of the bump may be due to buyers in areas ravaged by Hurricanes Harvey and Irma getting back into the market. It may be that their homes were damaged and they were able to get into new ones. Or, perhaps, these buyers waited until the storms passed and then assessed the damage before going ahead with the purchases.
PB Topical Ref
