NAHB: Home sales rise 11% in June

WASHINGTON – Newly built single-family home sales rose nationally by 11 percent in June, marking the third consecutive month of improving sales, according to the National Association of Homebuilders.
June sales were at a seasonally adjusted rate of 384,000 units annually, NAHB reported.
“Today’s report is good news that indicates the nation’s housing market may be in the process of turning the corner,” NAHB Chairman Joe Robson said in a statement on July 27. “That said, the key to moving us out of [this] recession is to get Americans back to work. Congress and the administration should know that housing can be a significant generator of good jobs. We need to make housing a priority in the recovery process. Otherwise we can continue to bounce along a bottom for some time.”
The on-the-market supply of new homes was at 281,000 units in June, representing a “relatively thin” 8.8-month supply, according to NAHB. In May, there had been 292,000 new homes on the market, which NAHB pegged as a 10.2-month supply.
The National Association of Home Builders, a trade group founded in 1942, produces in-depth economic analyses of the home building industry based on private and government data. To learn more, visit www.nahb.org.