In a sign that the housing market continues to lead the economy during the coronavirus outbreak, sales of newly built, single-family homes rose to its highest pace since 2006, up 13.9 percent to a seasonally adjusted annual rate of 901,000 units in July.
Confidence in the market for new multifamily housing increased in the second quarter, however, it still remains in negative territory, according to results from the Multifamily Market Survey released by the National Association of Home Builders.
In a further sign that housing continues to boost the economy, single-family and multifamily starts each posted solid gains in July, with total housing production up 22.6 percent to a seasonally adjusted annual rate of 1.50 million units.
In a sign that the housing market is leading the economy during the coronavirus outbreak, sales of newly built, single-family homes rose to their highest level since the Great Recession.
In a strong signal that the housing market is ready to lead a post-COVID economic recovery, builder confidence in the market for newly-built single-family homes jumped 14 points to 72 in July.
The National Association of Home Builders and the National Association of Realtors launched a new joint initiative, Home Performance Counts, designed to help consumers better understand the rapidly growing high-performance home marketplace - homes that prioritize comfort, durability, wellness and affordability.
In an effort to meet the growing demand for local market data and analysis in the home building industry, the National Association of Home Builders and Hanley Wood/Meyers Research announced the future rollout of a new home building data platform available to NAHB's 140,000 members and powered by Zonda.
