What are the driving factors behind the recent surge in new home sales percentages?

New home sales have been increasing due to a shortage of previously owned homes on the market.

The median sales price of new homes is $430,700, a 6% increase from February.

There has been a 41% year-over-year growth in new home sales, indicating a strong demand.

New home sales have risen regionally, with the Northeast, Midwest, and West seeing significant increases.

The limited supply of homes available for purchase has led to fierce bidding wars and higher prices, making new homes more attractive.

Despite elevated mortgage rates, new home sales have managed to inch higher due to more incentives and availability of new homes.

The new real estate commission structure could mean buyers have to pay more out-of-pocket fees starting in July.

The US has about six times more home sales each year than the UK does, making the new home sales market highly active.

Home prices are sliding, but home sales are up, indicating a strong demand for housing.

The median price in the Midwest was $261,200, up 50 from February 2022.

From 2021 to 2022, the median sales price of new homes increased by 3.4%, indicating steady growth.

The average sales price of new homes was $544,000 in October 2022.

From October 2021 to October 2022, the median sales price of new homes increased by 4.9%.

The new home sales market is experiencing a 19-month high due to a surge in sales in September 2022.

Business activity in new home sales has risen to 13-month highs in May 2023.

The median new house price fell 8.2% year-over-year in May 2023, indicating a potential slowdown in price growth.

New home sales fell in all four regions year-over-year in January 2023, but the market weakness remains.

First-time buyers accounted for 29% of sales in December 2022, up from 28% in September and down from 32% a year ago.

Individual investors or second-home buyers made up 17% of transactions in December 2022, compared to 13% a year ago.

Higher construction costs have contributed to the increase in the median new home sale price in December 2022.