New Home Sales
New home sales refer to the sale of newly constructed homes. This type of sale is different from existing home sales, which involve the sale of previously owned homes. New home sales are an important indicator of the health of the housing market and the overall economy. When new home sales are strong, it indicates that people are confident in the economy and are willing to invest in a new home.
History of New Home Sales
The concept of new home sales has been around for centuries. In the United States, the first recorded sale of a new home was in 1790. Since then, new home sales have been an important part of the housing market. In the early 20th century, the federal government began to regulate the sale of new homes, and the National Association of Home Builders was formed in 1942. Since then, new home sales have been closely monitored by the government and the housing industry.
Comparison of New Home Sales
| Year | New Home Sales (in thousands) |
|---|---|
| 2010 | 306 |
| 2011 | 321 |
| 2012 | 367 |
| 2013 | 433 |
| 2014 | 539 |
Summary
New home sales are an important indicator of the health of the housing market and the overall economy. The concept of new home sales has been around for centuries, and the federal government began to regulate the sale of new homes in the early 20th century. The sale of new homes has been steadily increasing since 2010, indicating that people are confident in the economy and are willing to invest in a new home. For more information about new home sales, visit the National Association of Home Builders website or the U.S. Census Bureau website.
See Also
- Existing Home Sales
- Housing Starts
- Housing Market Index
- Mortgage Rates
- Home Price Index
- Building Permits
- Housing Affordability Index
- Consumer Confidence Index
- Real Estate Investment Trusts
- Real Estate Appreciation
