New Home Sales On the Rise Just a Month After Tax Credit Jul 28, 2010

Printable format  Email this Article  Search

Sales of new single-family houses in June 2010 were at a seasonally adjusted annual rate of 330,000, according to estimates by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 23.6% above the revised May rate of 267,000, but is 16.7% below the June 2009 estimate of 396,000.

Bob Jones, chairman of the National Association of Home Builders (NAHB) and a home builder from Bloomfield Hills, MI, said the numbers were encouraging given the May drop in sales after the federal tax credit expired. “While we still have quite a way to go on the path to recovery, it’s good to see that we are headed in the right direction.”

Back to Daily News