Posted in Industry News
New Home Sales Are Back Up After Weather Induced Slowdown
This winter’s harsh weather has made an impact on both the housing market and the U.S. economy as a whole, with residual damage causing production delays as well as trouble for consumers in 2013’s fourth quarter. However, a new report from the National Association of Home Builders shows that new home sales bounced back in January 2014. As building season gears up, this suggestive data is indicative of continued improvement in the housing market over the coming year.
The Census Bureau and the Department of Housing and Urban Development estimated that January 2014’s sales were up 9.6 percent over December, which is 2.2 percent higher than January 2013.
Additionally, the National Association of Realtors Pending Home Sales Index, which measures existing home sales, was up slightly in January as well, after a 5.8 percent drop in December.
Read the full article from NAHB here.
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