Snapshot: The Housing Market in the Carolinas

– Housing Intelligence

With the surge in distressed real estate sales over the past couple of years, new homes have made up a smaller portion of overall housing activity. Based on data from Housing IntelligencePro, the proportion of new home sales declined to 9.5% of total home sales in the third quarter of this year compared to 10.5% during the same period a year ago. However, there were some areas across the country that did experience an increase in new home activity. Our data feature of the week focuses on places with the largest share of new home sales as a portion of the overall market, with a minimum of 1,000 closings during the quarter. The results show that the Carolinas stick out. Fayetteville, NC had the highest number of new home sales as a percentage of the overall market. Over 32% of all the homes closed in the third quarter were in the new homes segment which is up about 31% during the third quarter of last year. The fourth and ninth highest concentrated markets, Huntsville, AL and Charlotte, NC, both also experienced an increase in new home activity compared to year-ago levels. Ten out of the top-17 areas across the U.S. with the highest concentration of new home sales activity were in the Carolinas.



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