From Home Furnishing Business
FastFact: New, Existing Home Sales Remain Below Pre-Recession Levels
Although sales of new and existing homes have shown steady growth since 2011, the figures still haven’t matched levels they achieved in 2007 – the year before the Great Recession – according to data from the U.S. Census Bureau and the National Association of Realtors.
Sales of existing homes were very near pre-recession levels in the first half of 2017, reaching an index of 98.5 (2007 = 100), but new home sales didn’t come close. The new homes sales index was only 79.2, but it was better than 2016, when it stood at 72.7, and 2015, when it was 65.3.
The Realtors group is projecting an increase of 2.6% in sales of existing homes for the 2017 calendar year, and a jump of just 1.8% in 2018.
For an in-depth look at the numbers, click here.