News


New home sales in U.S. up 5.4% in July

Market should make additional gains this year, builders say

Sales of newly built, single-family homes rose 5.4% to a seasonally adjusted annual rate of 507,000 units in July, according to newly released data from the Department of Housing and Urban Development and the U.S. Census Bureau.

"Our builders are reporting higher traffic and more serious buyers, and are adding inventory in anticipation of future business," said Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo.

"Today's report is in line with other government data and improving builder sentiment and shows a gradual but consistent housing recovery," added David Crowe, NAHB's chief economist. "As job growth and consumer confidence continue to strengthen, the housing market should make additional gains this year."

Regionally, the Northeast, South and West posted respective gains of 23.1%, 5.8%, and 6.7%. The Midwest registered a 6.9% decline.

Comments

Sorry, but further commenting on this topic has been closed.

Some election thoughts
By Tim Hunt | 3 comments | 627 views

Livermore's Marchand, aka the mayor of Seville, seeks re-election
By Jeb Bing | 1 comment | 97 views

 

Nominations due by Sept. 17

Pleasanton Weekly and DanvilleSanRamon.com are once again putting out a call for nominations and sponsorships for the annual Tri-Valley Heroes awards - our salute to the community members dedicated to bettering the Tri-Valley and the lives of its residents.

Nomination form