New Home Sales Growth

New home sales grew 28.1% year-over-year in January according to Zonda.

The New Home Pending Sales Index captured an early start to the spring selling season with home sales up 28.1% year-over-year in January. All of the demand drivers that supported the strength in the housing market throughout 2020 are propping up home sales in early-2021 as well. Pending new home sales trended above January 2020 levels in sixteen of the select twenty markets. Top markets for home sales are Jacksonville, Austin, and Raleigh. These markets have been consistently among the top performers in the country driven by migration trends, relative affordability, and a desirable quality of life.

Experts at the housing industry advisor Zonda has released the New Home Pending Sales Index (PSI) for January 2021. The New Home Pending Sales Index captured an early start to the spring selling season with home sales up 28.1% year-over-year in January.

Pending new home sales trended above January 2020 levels in sixteen of the select twenty markets. Top markets for home sales are Jacksonville, Austin, and Raleigh. These markets have been consistently among the top performers in the country driven by migration trends, relative affordability, and a desirable quality of life. The index is a leading residential real estate indicator based on the number of new home sales contracts signed across the country.

The full report can be found at zondahome.com.

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