As measured by signed contracts, new home sales jumped 13.9% compared with June and were a remarkable 36.3% higher annually, according to the U.S. Census.Daniel Acker | Bloomberg | Getty Images
As measured by signed contracts, new home sales jumped 13.9% compared with June and were a remarkable 36.3% higher annually, according to the U.S. Census. June's reading was also revised higher. This is the strongest one-month pace since 2006. "The new home market has everything going for it right now including limited resale supply, fear of missing out, heightened dissatisfaction of our current living situation, low mortgage rates, months of saving money, and increased demand from key demographic cohorts," said Ali Wolf, chief economist at Meyers Research.
"With larger homes, greener backyards, garages and home offices ranking at the top of home buyers' lists, new homes in the suburbs fit the bill and have been a welcome answer to a housing market parched for existing inventory," said George Ratiu, senior economist at realtor.com. "Builders have recognized the acute need for more construction and have moved to fill the gap.
Hey, let's hand out $2 Trillion in free money every year!
That sounds like a pretty terrible idea.
heck of a recession huh?
Give people enough free money and they'll buy anything of value--also, check how many of the people are actual homeowners and not just hedge funds buying up inventory with unlimited FED money.
Oh dear, the Biden collapse has begun.
Cuz AMERICA IS GREAT!!!
Interesting Number...