New Home Sales Growth Surges to 25-Year High

New Home Sales Growth Surges to 25-Year High 

The housing market in the United States during September was successful even though the country experienced two hurricanes. The purchase of new built homes for this month rose to 18.9 % as compared to the sales in August. Before the hurricanes, the sales for new built and existent homes during the spring and summer were not very successful due to experiencing scarcity of homes available and increasing prices. People expected that following the hurricanes, sales of homes would continue to be not that good, but as people were left without homes, the markets in Florida and Texas have experienced a 25.8 % increase in the number of sales during the month of September. On average customers during this month bought a brand new home for $319,700. 

The fact that people continued to purchase homes, suggests that they were influenced by the need to find a new home as soon as possible because they were affected by one of the two hurricanes.  Individuals were purchasing homes because their homes were damaged to a certain degree  that made them unlivable or simply because they did not want to return by having to rebuilt and preferred to start over in a new area. The hurricane season with the arrival of two hurricanes in the United States caused some families to loose their homes in some areas that experienced flooding. 

https://www.wsj.com/articles/u-s-new-home-sales-surge-in-september-1508940822