Steel Markets
July 24, 2020
New Home Sales Robust in June
Written by Sandy Williams
New home sales were robust in June, jumping 13.8 percent from May to a seasonally adjusted annual rate of 776,000, according to estimates by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales were 6.9 percent higher than in June 2019 and at the highest rate since the Great Recession..
“While Wall Street may have been expecting a smaller gain, anyone following the NAHB/Wells Fargo Housing Market Index would know these numbers are in line with what we are hearing from builders,” said National Association of Home Builders Chairman Chuck Fowke. “Builders are moving to ramp up production to meet growing demand.”
