sales

New home sales surge to highest level since before the Great Recession

New home sales surge to highest level since before the Great Recession

‘Already, more new homes have sold in 2020 than did in all of 2019,’ one economist said

The numbers: Sales of new single-family homes in August exceeded an annual rate of 1 million for the first time since 2006, as buyers were forced into the market for newly-constructed properties thanks to the dearth of home listings.

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New Home Sales Remain Stable in September

Sales of newly built, single-family homes decreased 0.7% to a seasonally adjusted annual rate of 701,000 units in September off a downwardly revised reading in August, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. On a year-to-date basis, new home sales for 2019 are 7.2% higher than the same period in 2018.

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Defusing Objection Bombs in Sales

Let’s face it, if you’re in sales, you’re going to deal with objections. And many new-home sales consultants have a difficult time overcoming objections from prospective buyers.

Objections are like bombs: If not defused, they will blow up in your face! The key is learning how to masterfully mollify the situation.

First, learn how to recognize an objection:

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February New Home Sales Flat After Upward Revisions to Prior Months

Sales of newly built, single-family homes remained virtually unchanged, inching down 0.6% in February to a seasonally adjusted annual rate of 618,000 units after upward revisions to the January, December and November reports, according to newly released data from HUD and the U.S. Census Bureau.

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Home Price Increases Since 2011 More Than Triple Income Gains

While home price increases softened slightly in the fourth quarter of last year, the National Association of Realtors® (NAR) said, an uptick in existing home sales further exhausted available inventories. NAR's quarterly metropolitan area housing report puts the national median existing single-family home price at $247,800 at the end of 2017, up 5.3 percent from the fourth quarter of 2016. The year-over-year gain in the third quarter of 2017 was a slightly higher 5.6 percent.  

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