New Homes $ales Up 3rd Month in Row

Sales of new single family homes increased by 11% in June. Making a seasonally adjusted annual rate of 384,000 units. This according to the U.S. Commerce Department. This increase marks a third consecutive month of improved sales activity.

“This is good news that indicates the nation’s housing market may be in the process of turning the corner,” said Joe Robson, chairman of the National Association of Home Builders (NAHB) and a home builder from Tulsa, Okla. “That said, the key to moving us out of recession is to get Americans back to work. Congress and the Administration should know that housing can be a significant generator of good jobs. We need to make housing a priority in the recovery process, otherwise we could continue to bounce along a bottom for some time.”