12 Cities Where Housing is Booming
The cities with the highest year-to-date sales growth may surprise you. Did your city make the cut?
Home sales are on the rise, and that is good news for CE pros.
Those who specialize in retrofits in particular may find themselves in an improved climate.
Total existing-home sales are up 13.5 percent from the 4.38 million unit level in October 2010, according to the National Association of Realtors.
Furthermore, there has been a consistent drop in the number of homes sitting on the market. Total housing inventory at the end of October fell 2.2 percent to 3.33 million, which represents an 8-month supply at the current sales pace, down from an 8.3-month supply in September.
Single-family home sales increased 1.6 percent to a seasonally adjusted annual rate of 4.38 million in October from 4.31 million in September, and are 13.8 percent higher than the 3.85 million-unit pace one year ago.
- Existing-home sales in the Northeast fell 5.1 percent to an annual level of 750,000 in October but are 1.4 percent above October 2010. Here’s the regional breakdown of housing numbers for October 2011:
- Existing-home sales in the Midwest rose 2.8 percent in October to a pace of 1.10 million and are 19.6 percent higher than October 2010
- In the South, existing-home sales increased 2.1 percent to an annual level of 1.94 million in October and are 14.1 percent above a year ago
- Existing-home sales in the West rose 4.4 percent to an annual pace of 1.19 million in October and are 15.5 percent higher than October 2010. The median price in the West was $207,500, which is 1.6 percent below a year ago
So while housing was up 13.5 percent nationwide in October, some areas are experiencing higher year-to-date sales growth than others. We have rounded up the cities with the highest year-to-date sales growth.
We're Looking for Your BEST Projects
Don’t miss your chance to enter to win a 2019 BEST Projects Award. We’ll be announcing winners at a special Gala event at CEDIA EXPO. We can’t wait to see what you’ve been up to this year! Enter your projects now.
Maxine is an assistant web editor for cepro.com. She graduated from Emerson College with a M.A. in journalism and Endicott College with a B.S. in communications. She joined EH Publishing in 2011. Have a suggestion or a topic you want to read more about? Email Maxine at firstname.lastname@example.org
Follow Maxine on social media:
ResearchABI Study States 4K Poised to Serve as the Public’s Preferred Video Format
What Recession? CE Pro Mid-Year Report Predicts Growth for Second Half of 2019
Houzz Survey: Outdoor Security Having a ‘Major Moment’
Control4, Crestron, Savant Top Home-Automation Charts - CE Pro 100 Brand Analysis 2019
Sonos and the Home Gym: Untapped Potential?
View more on Research