August, 2021   Blog Home   Contact

John McClintock Team

New Construction Sales Rebound as Prices Hit Record High

New home sales rebounded from a three-month slide, as employment gains and summer vacations motivated many families to look for a new home before the start of the school year. A total of 708,000 homes sold during the month, a 1.0% increase from an upwardly-revised June figure, driven by double‑digit gains in the West. However, sales of new homes were 27.2% lower than the same month in 2020.

Even with the cost of lumber coming down in June, builders maintained higher prices, pushing the median new home price to a record of $390,500, an 18.4% jump from a year ago. The supply of new homes has been improving, from a low of 3.7 months of inventory in March, to 5.9 months in July. Sales of entry‑level homes—priced below $300,000—accounted for 24% of total sales, reflecting continuing shortage of affordable new housing.

Source: National Association of Realtors,

View Bucks County New Construction
(For Sale, Pending and Recently Sold)

Before You Visit a New Home Development, call The John McClintock Team at 267‑759‑9518 for buyer representation on dealing with builder amenity negotiations, realistic prices, location selection, and more.

john mcclintock team

Information is deemed reliable but not guaranteed.