New homebuyer activity is expected to surge, a new survey revealed on Tuesday.
New research by Stone Real Estate reveals that sales levels for new builds increase as December approaches.
This is in contrast to the general market sales that typically decline as the Christmas season approaches.
This figure shows that, on average over the past five years, new construction transactions in December accounted for 11.9% of total new construction transactions for the year.
Additionally, December, along with June, appears to be the only month in which new construction sales reach double digits as a percentage of total annual sales.
Another trend revealed in the survey is that new home sales have declined since June, before picking up again as the Christmas period approaches.
“The new construction sector is less seasonally burdened when it comes to sales transactions than the established sector,” said Michael Stone, founder and CEO of Stone Real Estate. commented on.
“This is primarily because new home sales involve one buyer, while there are specialized organizations working right up until the Christmas holidays to get the sale over the line.” The founder and CEO continued.
Michael Stone said: “This should be the case with any good real estate agent, but the process is even quicker as there are no long formalities or other complications associated with selling an existing property.As a result, before Christmas in December The new construction sector will be in a better position to drive more sales, albeit in a shorter period of time, as we enter the completion rush just after Christmas.
“One of the common misconceptions is that Christmas is the best time for home buyers to find bargains. While this is true to some extent, historically new home prices have tended to remain strong. That said, developers often include celebratory incentives to persuade homebuyers to take the plunge. , which of course works in your favor heading into the year-end numbers. ”
