Although the housing market has fluctuated greatly in the last few years, a new real estate study shows that new home sales are on the rise. In April of this year, new home sales rose more than 7%. Because nearly all new home constructions come equipped with brand new, state of the art appliances, well known manufacturers such as GE and Maytag are seeing more revenues.
Standard new home constructions come with refrigerators, stoves and microwaves, at minimum. Upgraded new homes often have washers and dryers. Because new US home construction regulations require contractors to include energy efficient fixtures, low pressure toilet sales have also increased. Although this is good news for appliance manufacturers that have been struggling to stay afloat, they are not in the clear just yet.
A startling housing report shows that new home construction owners are two to three times more likely to lose their homes to foreclosure. Often, appliances are sold or even stolen because new homes are a target for thieves. Because new homes are often priced higher than existing houses, sometimes new property owners decide to purchase old appliances so that they can save money.
Another phenomenon includes appliance rentals. For a few dollars a month, new homeowners can rent gently used appliances. Many of the companies that rent appliances to consumers do not offer warranties, however, they do have the option to buy. Until the housing market completely rebounds both construction companies and appliance manufacturers will have a difficult time convincing shoppers that new appliances are a good investment.
