New Home Sales Surge

The U.S. Department of Housing and Development and the U.S. Census Bureau announced this week that sales of new, single-family homes increased by a massive 18% in August (with an adjusted annual rate at over 500,000 units!) This number shows the housing market at its highest level in 6 years! And this information comes on the heels of builders across the country seeing an increased traffic of serious homebuyers. The Chief Economist for the National Association of Home Builders (NAHB) contributes this growth to, “historically low mortgage rates, attractive home prices and firming job and economic growth.” Every region of the country saw an increase in home sales (sans the Midwest), with the West seeing a 50 percent increase over the past month alone!

With the outlook on the rest of the year looking strong, it seems the economy is slowly returning to the status it was before the economic downturn. The Department estimates an inventory of new homes for sale at around 203,000, which is barely a 5-month supply. But rest assured, we here at Coastal Design Builders are hard at work to push those numbers higher!

Preparing for your walk-through

Buyers of new homes can avoid a lot of the worries that used home buyers have to think about – from mold and moisture issues, to broken appliances and unsightly interior décor.

A new home is just that…new!  Your closing walk-through will be dramatically different as you’ll be inspecting brand new products, construction and interior selections.

To make this process even easier, here are a few things to look for during your walk-through. Your pre-planning will make it easier on your builder to address any concerns before the closing.

 Windows and Doors – Open and close all windows and doors. Make sure they are easy to operate and sealed.

Flooring – Make sure carpet is pulled tight with no gaps. If you have tile or hardwood check for any signs of chips or cracks.

Walls – Check paint for any missed spots.  Check the walls, molding and baseboards.

Appliances and Operators– Review appliances to ensure all are included as promised in your contract.  Test the doorbell and garage door opener.

Your final walk-through is a great time to become familiar with your new home. Ask your builder about how the home operates and how you can better maintain your new home.