Sales of new U.S. homes exceeds expert predictions
Posted on Thursday, April 26, 2012 at 6:55:35 PM
According the National Association of Home Builders, new homes sales are up in March 2012 on a seasonally adjusted basis. Houses sold at a 328,000 annual rate, which is down slightly from the revised 353,000 rate experienced in February 2012 but significantly higher than the projected 319,000, reports Businessweek.
"Housing is going to gradually dig out of this deep hole because the job market is going to be firming," Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania, told the news source.
Potential homebuyers may wish to consider building their own home if they can get approval for residential financing. While building is traditionally more expensive than buying a pre-existing property, it does offer a person the ability to design something to meet their needs.
The modest increase of 3.7 percent in new home sales from quarter-to-quarter represents the improvement of the housing market at this time. While the industry may not be growing by leaps and bounds, it is making steady headway toward stability.