After a sluggish start to 2014, new-home sales posted a strong rebound
in May. Sales of newly built single-family homes soared to the highest
rate since May 2008, jumping 18.6 percent last month, according to data
released Tuesday by the U.S. Department of Housing and Urban Development
and the U.S. Census Bureau.
Across the country, regions posted big gains in new-home sales, with
the Northeast leading the pack. Sales of new-homes jumped 54.5 percent
in the Northeast, 34 percent in the West, 14.2 percent in the South, and
1.4 percent in the Midwest.
Inventory levels mostly stayed flat, as builders continue to be cautious about overbuilding. The
inventory of new homes for sale held steady at 189,000 units in May,
representing a 4.5-month supply at the current sales pace.
New-Home Sales Surge Nearly 19%
No comments:
Post a Comment