Americans snapped up more homes in September, suggesting that the U.S. housing sector remains insulated from global economic turmoil.
The National Association of Realtors said Thursday that sales of existing homes jumped 4.7% last month to a seasonally adjusted annual rate of 5.55 million. Buying activity rebounded after slipping in August, indicating that demand for housing continues despite a series of recent economic hits: stock market declines, falling factory orders, a slowdown in China, struggles in emerging nations such as Brazil and Turkey, and stagnation in Europe.
Ginger Kneup of Bright Future is reporting metro Tucson housing permits are back on track as the pace of new home permits picked up in September to achieve a gain of nearly 18% over Sept. 2014. The strong activity closed the YTD gap to only 2% behind last year.
At mid-year, volumes had been about 5% behind the 2014 pace.
Permits have become much more focused in master-planned communities as many projects that opened early in the Housing Recovery are closed or near build-out.
To note, Maracay Homes pulled its first permit at Center Point Vistoso (aka The Donut Hole) and plan to open in January with 151 lots.
YTD new home closings are 1,408; 87 more (+6.6%) than last year’s pace.
See see full article go to https://tucsonrealtors.org/docs/default-source/Score-Cards/1015scoreweb.pdf?sfvrsn=0