Housing Market Shows 5.3% Boost in New Home Sales
Housing Market Shows 5.3% Boost in New Home Sales
Looking for a silver lining in the housing market? Here’s some good news for homebuyers as market shows 5.3% boost in new home sales.
Despite challenges, new home sales experienced a 5.3% boost in February 2024 according to the latest report from the Housing Industry Association. While sales remain near low levels, this uptick indicates potential opportunities on the horizon.
The data shows that over the three months leading up to February 2024, new home sales showed promising growth compared to the same period in 2023. Western Australia, Queensland, and NSW led the charge with significant increases, showcasing a positive trajectory for the market.
Moreover, annual sales activity across the combined capitals increased by 6% compared to the same period a year prior and 8.2% higher than the five-year average, as revealed by CoreLogic’s Monthly Housing Chart Pack for March 2024.
What does this mean for you?
As the housing market adapts to changing economic conditions, there’s a window of opportunity for homebuyers. Whether you’re dreaming of a cozy nest or an investment property, now might be the time to explore your options and secure your slice of your mortgage pie.
Stay tuned for more updates and insights from Nfinity Financials as we navigate the ever-evolving landscape of homeownership together. Schedule a consultation call at 1300 GET LOAN with us today to start your journey towards owning your first home. You can also visit our related articles here. Your dream home could be closer than you think.
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