Sales of newly-built single-family homes rose briskly 18.6 percent in May to a seasonally-adjusted annual rate (SAAR) of 504,000 units, the highest rate since May of 2008, according to data collected by the National Association of Home Builders from the U. S. Census Bureau and the Department of Housing and Urban Development (HUD). NAHB Chief Economist David Crowe says, “As job creation continues, we can expect further release of pent-up demand and continued gradual growth in the housing recovery.” Sales were up in all regions of the nation, MHProNews has learned: Sales rose 54.5 percent in the Northeast, 34 percent out West, 14.2 percent in the South and 1.4 percent in the Midwest. The inventory of new homes for sale remained at 189,000 units, representing a 4-5 month supply at the current sales pace. ##

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