First - time buyers are driving demand for new US homes , as sales of single - family properties hit 685,000 in 2017 , an annual increase of more than 6 % . That 's seen as a sign of consumer confidence in the future of the economy . Overall sales were up 8.9 % in the first 10 months of 2017 YOY , according to the Commerce report . It also revealed sales of homes in the $ 200,000-$300,000 range had risen more than 35 % in 2017 . However , the US house - building industry is feeling the pressure , as it battles labour shortages and costs for land and materials .
First-time buyers are driving demand for new US homes, as purchases of single-family properties hit 685,000 in October, an annual increase of more than 6%. That's seen as a sign of consumer confidence in the future of the economy. Overall sales were up 8.9% in the first 10 months of 2017 YOY, according to the Commerce Department. It also revealed sales of homes in the $200,000-$300,000 range had risen more than 35% in October. However, the US house-building industry is feeling the pressure, as it battles labour shortages and costs for land and materials.