10 Most Active Markets for New-Home Sales

May 19, 2015

New-home sales nationwide remain way below historical averages, but there are pockets of strength across the country, particularly in the South, like in Texas and the Carolinas, according to an analysis conducted by CoreLogic.

Eight of the 10 fastest growing new-home sales markets are located in the South. The fastest growing new-home sales market is Nashville, Tenn., where new home sales have risen 17 percent year-over-year.

Meanwhile, El Paso, Texas, has the highest new-home sales share nationwide, where 22 percent of all sales were new construction, compared to 8 percent across the country, according to CoreLogic.

"Looking forward, southern markets with strong demographic growth will exhibit robust new home sales activity," according to CoreLogic’s analysis. "In many of the remaining metros with solid job growth, the reality of very low inventory of unsold new homes, declining vacancies and rapid price appreciation will lead to more construction in the next few years that will lift many more markets above their current new home sales trajectory."

CoreLogic reports the following 10 markets had the highest new-home sales share (new home sales as share of total sales):

  1. El Paso, Texas
  2. Raleigh, N.C.
  3. Charleston-North Charleston, S.C.
  4. Houston-The Woodlands-Sugar Land, Texas
  5. San Antonio-New Braunfels, Texas
  6. Austin-Round Rock, Texas
  7. Charlotte-Concord-Gastonia, N.C.-S.C.
  8. Jacksonville, Fla.
  9. Colorado Springs, Colo.
  10. Orlando-Kissimmee-Sanford, Fla.

The following are the 10 markets that have seen the highest new-home sales growth in the past year (based on percent change from a year earlier):

  1. Nashville-Davidson-Murfreesboro, Tenn.
  2. San Jose-Sunnyvale-Santa Clara, Calif.
  3. Atlanta-Sandy Springs-Roswell, Ga.
  4. Jacksonville, Fla.
  5. Greenville-Anderson-Mauldin, S.C.
  6. North Port-Sarasota-Bradenton, Fla.
  7. Fort Worth-Arlington, Texas
  8. Portland-Vancouver-Hillsboro, Ore.-Wash.
  9. San Antonio-New Braunfels, Texas
  10. Miami-Miami Beach-Kendall, Fla.

Source: "What Are the Most Active New Sales Markets?" CoreLogic (May 16, 2015)