The National Association of Home Builders (NAHB) reports HUD and Census Bureau figures show sales of newly-built single-family homes rose 2.3 percent in April to a seasonally-adjusted annual rate (SAAR) of 454,000 homes. “Today’s report is further evidence of the gradual, consistent improvement we have been seeing in housing market conditions over the past year,” noted NAHB Senior Economist Robert Denk. “We’re now about half-way back to what could be considered a full recovery, and we do expect to see continual, solid gains in both starts and sales of new homes going forward.” Regionally, new-home sales rose 10.8 percent in the West and 3.0 percent in the South while declining 16.7 in the Northeast and 4.8 percent in the Midwest. As MHProNews has learned, the inventory of new homes for sale rose to 156,000 units, a 4.1 month-supply at the current pace of sales.
