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New home sales accelerate and inventories are low, good for homebuilders

Posted by Bonnie Martin Designated Broker on Monday, July 29th, 2013 at 3:15pm. - May new home sales, as reported by the Census Bureau and the Department of Housing and Urban Development, increased 2.1% from April.  

New home sales increased to an annualized pace of 497,000—up 8.3% from May (which was revised down from an initial estimate of 476,000 to 459,000) and up 38% from a year ago. Activity picked up in the West, South, and Northeast, while falling in the Midwest.

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