Economy: Best Home Sales in Five Years Signal Building Gain
Now is the perfect time to start the process of planning for your new home.
According to Bloomberg News, sales of new U.S. homes rose in June to the highest level in five years, pointing to gains in residential construction that will support the economic expansion in the second half of the year.
Purchases climbed 8.3 percent to an annualized pace of 497,000 homes, the highest level since May 2008, the Commerce Department said.
“It’s a builder’s market,” said Stuart Hoffman, chief economist at PNC Financial Services Group in Pittsburgh. “The housing market is poised for further gains and is a key component of the U.S. recovery overall.”
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