New Home Sales Surge Provides Momentum for Spray Polyurethane Foam Contracting Companies
WASHINGTON, D.C. – December 30, 2015 – Sales of newly built, single-family homes rose 10.7 percent to a seasonally adjusted annual rate of 495,000 units in October, according to newly released data from HUD and the U.S. Census Bureau.
“Our builders are reporting continued optimism in the housing market, and are adding inventory in anticipation of future business,” said Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo.
“Sales this year are running 15.7 percent ahead of 2014,” said NAHB Chief Economist David Crowe. “With a firming job market, affordable home prices, and rising pent-up demand, today’s report is another indicator that the housing market continues to move on a modest upward trajectory.”
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New-home sales were up in three out of the four regions. Sales rose 135.3 percent in the Northeast, 5.3 percent in the Midwest, and 8.9 percent in the South. Sales fell 0.9 percent in the West.
The inventory of new homes for sale was 226,000 units in October. This is a 5.5-month supply at the current sales pace.
About the National Association of Home Builders (NAHB): The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year. For more information, visit http://www.nahb.org. - See more at: https://sprayfoam.com/foam-news/-greenbuild-and-nahb-announce-new-strategic-partnership-/2491#sth...
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