June 15, 2017

STRONG MAY SALES FOR HOMEBUILDERS

ROSEVILLE - The North State BIA issued its monthly sales report, which showed the region's homebuilding industry tallied 565 sales from 144 communities reporting in May. This compares favorably to April's 449 sales from 139 communities.

"Our latest sales report is a further indication of the improving economic strength of the regional housing market,"  said Andy Davidson, the BIA Chair and VP of Construction with Anton Development Company. "This is the most sales we've seen during the month of May and the single best sales month we've had in general in a decade. At this rate, I am also confident that we will easily surpass last year's sales total of 4,208, with 2,453 sales already accounted for in the first five months of 2017."
Best May Sales Since 2007 
Year over year, sales increased by an impressive 121 in May, while this month's sales also improved by 153 from a decade ago and by a staggering 434 from just six years ago at the same time.
Average Sales Per Month Trending Up
The average number of sales per month, so far, in 2017 is 491. This number has generally been increasing since 2008 during the month of May.
May Traffic Numbers on the Rise
Traffic numbers this May rose by near 5,000 year over year. With interest rates still relatively low and a diverse new housing stock to choose from, more potential homebuyers are making the decision to buy.
New Home Sales by Region  
The North State BIA's monthly New Home Sales Report is compiled through a collaborative effort between association staff and homebuilders, who provide weekly reports based on escrow closings. The chart below breaks down regional sales for May 2017.
Price Point Data
As part of its monthly sales analysis, the North State BIA also records the price points for new homes sold. The May 2017 price points for new home sales can be seen in the chart below.
BIA Data Note
The North State BIA's sales figures represent the majority of production homebuilders in the greater Sacramento region.

Regional Permit Data
The California Homebuilding Foundation's (CHF)  Construction Industry Research Board (CIRB) regional permit data for May can be viewed here.

Permit totals are subject to change due to post-reported County/City activity and/or post-adjusted data submitted to CIRB by the reporting municipality. CIRB statistics are formally published at the end of the month in the California Construction Review (CCR) report. Please contact (916) 340-3346 or CHF-CIRB@mychf.org for additional information.
North State BIA