Wednesday, August 20, 2014

Homebuilders Pick Up Pace

Homebuilders Pick Up Pace to Meet Shortages, Demand

Construction of new homes surged to its highest level since November, rising 15.7 percent in July to a seasonally adjusted annual pace of 1.09 million units, the Commerce Department reports. The gain followed two consecutive months of declines in the new-home sector.
"A return to production levels over 1 million confirms that consumer confidence continues to improve," says Kevin Kelly, chairman of the National Association of Home Builders. "Propelled by a healthier economy, more and more people are feeling ready to buy a home."
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