Page 22 - BB_Aug_2017

New Home Sales

Edged Higher in June

Sales of newly built, single-family homes in June
inched up 0.8% to a seasonally adjusted annual rate of
610,000 units from a downwardly revised May reading,
according to newly released data by HUD and the U.S.
Census Bureau.
“Although we saw modest gains this month, new
home sales have risen nearly 11% since the start of builders face lot and labor shortages and increases in
2017,” said NAHB chairman Granger MacDonald. building material costs.”
“Our members remain optimistic as the single-family The inventory of new home sales for sale was 272,000
housing market continues to recover.” in June, which is a 5.4-month supply at the current sales
“The month’s sales report is consistent with our pace.
forecast, and we should see further gains throughout Regionally, new home sales increased 12.5% in the
the year as the labor market continues to strengthen,” West and 10% in the Midwest. Sales were unchanged in
said NAHB senior economist Michael Neal. “While new the Northeast and fell 6.1% in the South.
home inventory rose slightly in June, it remains tight as NAHB JULY 2017

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22 AUGUST 2017 | GREATER SAN ANTONIO BUILDERS ASSOCIATION