- Sales touch maxima for six-month period
- Small houses sales register 14 per cent growth
The USA which reeled severely under the COVID-19 impact is limping back to normalcy. To overcome the problems faced during the pandemic situation, people have inclined to own houses. In this backdrop, remarkable progress was noticed last month in the sale of small houses. In September, at least 8-lakh housing units were sold across the USA, showing an upward trend in sale of houses after March this year.
USA commerce division went on record stating that the sale of houses in September registered 14 per cent growth. The Govt declared the number of housing units sold in August this year was 7,40,000 as against 7,02,000.
Sales in Southern part of USA have increased, so also in West and North-Eastern part of the country. However, the progress in house sales in Mid-West region is not much.
Compared to annual sale of housing units in September, sales dropped by 17.6 per cent in the region. This year, over 9,93,000 houses were sold in January, the highest after 2006 house sales.
In the beginning days of the pandemic situation, many US residents aspired to own big houses to set up home office and to cater to the online classes needs of children. Therefore, the demand for big houses swelled.
As people have begun to work from offices and students attending schools, the market activity for house sales has come down to an extent.
In fact, construction of 74 per cent of the houses sold last month is not yet through. At least 3,79,000 brand new houses are on the offer in the US Real Estate market.
