A report on new homes sales in the Sacramento region indicates the building industry is on track for its best year since before the economic downturn.
The North State Building Industry Association report shows 287 new homes were sold in May, the highest for the month in seven years.
"And that comes on the heels of three or four months of that kind of growth that we're seeing," said Ioannis Kazanis, communications director with the Roseville-based North State BIA. "We're definitely very pleased in what we're seeing in our sales report and we feel like the industry is certainly picking up some very solid momentum as we head further into this year."
Kazanis said average monthly home sales in the region this year are the highest since 2008. If that trend continues, he said 2015 will be the best year for the home building industry since 2008.
Kazanis said sales prices for most of the new homes sold in May ranged from $300,000 to $500,000 and nearly half of the new homes sold were in Placer County.
He said the sales report also tracks the number of prospective buyers who visited new home developments. Kazanis said those numbers parallel the sales numbers.
“They're the best traffic numbers we've also had for the month of May in seven years,” said Kazanis. “So, certainly there's a lot more people out there, a lot more people kind of testing the market, seeing what kind of opportunities are available to them, and that's obviously translating into sales."
And he expects that trend to continue, which could make 2015 the best year the region's homebuilding industry has seen since 2008.
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