Despite escalating mortgage rates and slumping home sales in the second quarter of 2022, a greater number of markets experienced double-digit annual price gains compared to the prior quarter, according to the National Association of Realtors' latest quarterly report.
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for June 2022.
After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate hike.
Existing-home sales retreated for the fourth consecutive month in May. Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions, according to the National Association of Realtors.
The number of U.S. secondary schools embracing trade skills curriculums is growing rapidly, according to the Home Builders Institute (HBI). The chief executive of the nation’s largest nonprofit organization in construction skills training says middle and high schools are reexamining the need to expose more of their students to the trades.
Prices of materials and services used in new nonresidential construction leaped nearly 21 percent in April from year-ago levels, according to an analysis of government data by the Associated General Contractors of America.
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential sales statistics for March 2022.