May 29, 2016 by Jeff Lowen
Although both existing and new home sales are up, it’s the new home builders that are feeling it the most. Obviously, right now is the cycle of real estate where inventory is low and home and community development builders are rallying to bridge that gap.
Here’s some highlights:
- Both New Home Sales and Existing Home Sales are up month-over-month and year-over-year.
- Inventory remains low which continues to drive home prices up as demand continues to exceed the 4.7-month inventory.
- The median price of new homes is up 12% from March 2015, while the median price of existing homes is up 6.3% from April 2015.
Want to know more about real estate cycles? What does this moment in the cyclical trajectory of real estate ups and downs mean?
The four phases of the real estate cycle
As early as 1876, Henry George observed the curious cycle through which real estate markets inexorably move. His findings can be summarized (with the help of Glenn R. Mueller’s refinements) in the following articles of The Real Estate Expert Advisor.
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