Steel Markets
June 25, 2018
South Sends New Home Sales Soaring in May
Written by Sandy Williams
New home sales took off in May, soaring 6.7 percent to a seasonally adjusted annual rate of 689,000 units from a downwardly revised April rate of 689,000, according to data from HUD and the U.S. Census Bureau. May sales were at the second-highest level since the Great Recession, driven by sales in the South.
“Sales numbers continue to grow, spurred on by rising home equity, job growth and reports of a greater number of millennials entering the single-family housing market,” said National Association of Home Builders Chairman Randy Noel.
