Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

U.S. New Home Sales Strong in June
Jul 28, 2004
 Printable format
 Email this Article
 Search

Sales of new single-family homes in the U.S. easily set a record for the May-June period, the Commerce Department reported. Fueled by strong population and household growth, improving economic conditions, a favorable financing climate, and the continued solid investment potential of new homes, sales of new single-family homes hit a seasonally adjusted annual rate of 1.326 million units in June. This rate was marginally below the record 1.337-million unit pace set in May and stood 11.1 percent above sales in June 2003.

"Buyer demand for new homes remains quite strong as job growth proceeds and consumer confidence builds," said Bobby Rayburn, president of the National Association of Home Builders (NAHB) and a home and apartment builder from Jackson, MS, U.S. "NAHB's Housing Market Index, based on our monthly surveys of single-family builders, indicates that the perception of an improving economy is helping drive the market."

NAHB Chief Economist David Seiders added: "The fundamentals behind housing demand are very positive, and it's also likely that home buying in May and June was spurred by expectations of rising interest rates later this year. Ironically, mortgage interest rates are now below the May-June levels, slipping to about 6 percent in recent weeks. While home buying may fade later this year, it now appears that home sales for 2004 will easily surpass the record set last year."

Three U.S. regions registered sales decreases for the month. The Northeast posted a 14.2-percent decline from May. The Midwest dipped 2.9 percent, and sales in the West declined 13.1 percent. The South posted a 9.6-percent increase for the month. All four regions, however, posted second-quarter averages that exceeded the performances in the first quarter of the year.

The inventory of new homes for sale in June was 374,000 units, representing a 3.4-month supply at the current sales pace. "The inventory situation improved during May and June as sales surged, and the supply-demand balance in the new-home market was very, very healthy at mid-year," Mr. Seiders said. "That bodes well for both housing production and home prices in the months ahead."

Back to Daily News

 

Daily News

...........................................................

Sep 25, 2014: Cub Cadet's new lawn tractor has Bluetooth and its own app

Sep 24, 2014: GE has the highest ranked appliance brand website; h.h. gregg ranked top appliance retailer website

Sep 24, 2014: Haier becomes first refrigerator maker to offer a lifetime compressor warranty

Sep 24, 2014: New condensing dishwasher from Whirlpool's plant in Wroclaw, Poland

Sep 24, 2014: Index points to growth in consumer spending on tech products in remaining months of 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows