New Home Sales at Highest Pace Since 2008

According to a new report from the National Association of Home Builders (NAHB), the pace of sales of newly built, single-family homes increased 11.6% in December to a seasonally adjusted annual rate of 481,000 homes, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the highest monthly sales rate since June of 2008.

After a slow start to the year, new home sales for 2014 totaled 435,000, a slight increase over 2013. The inventory of new homes for sale rose to 219,000 in December, a 5.5-months’ supply at the current sales pace. Inventory has been rising with homebuilder confidence as production increases to meet rising demand.

Read the full article at NAHB here.

 

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