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New home sales on the rise in the U.S.

New home sales on the rise in the US

According to the U.S. Department of Housing and Urban Development, the sale of newly built, single-family homes rose 8.3% in June 2017, to a seasonally adjusted annualized rate 1,215,000 units.

That is encouraging news for the National Association of Home Builders (NAHB) and very much in line with its forecast for a steady and gradual recovery of the housing market.
“We can expect further growth in new home sales throughout the year, spurred on by employment gains and a rise in household formations,” said NAHB Chief Economist Robert Dietz. “As the supply of existing homes remains tight, more consumers will turn to new construction.”

Click here for more details on new home inventory levels and regional sales in the U.S.

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