New Home Sales Dip in May
Sales of new single-family houses dipped 6 percent below April's pace, now at a seasonally adjusted annual rate of 551,000, according to Census Bureau and Housing and Urban Development data. Compared to May 2015, this year's sales are up 8.7 percent.
April's number set an 8-year high, so the dip wasn't unexpected. However, the market continues to "display the choppy progress that's been a hallmark of the recovery, as noted by Bloomberg. You can find their article here, along with a chart showing sales over time.
According to the National Association of Home Builders, new home sales "remain solid and builder confidence is growing— two indicators that the housing sector should strengthen throughout the year," said NAHB's chair, Ed Brady. Find their news release here.
PRO CONTRACTOR RENTALS MAGAZINE
Pro Contractor Rentals provides information of value to rental centers who focus time, resources and attention on meeting the demands of construction contractors and other equipment rental customers.
