WASHINGTON (National Association of Home Builders) – An “active spring buying season” helped push U.S. new home sales up in April.
According to new figures from HUD and the U.S. Census Bureau, sales of new single-family homes climbed 2.3 percent to 454,000 units last month. Robert Denk, senior economist for the National Association of Home Builders, believes the positive report is a sign of things to come.
“We’re now about halfway back to what could be considered a full recovery,” Denk said. “And we do expect to see continual, solid gains in both starts and sales of new homes going forward.”
The national inventory of new homes was a slim 156,000 units last month. At the current sales pace, this equates to a 4.1-month supply.