Sales of new homes have soared 24 percent year-to-date, helped by the additional incomes from the employers hiring 3.1 million workers in the past 12 months and relatively low mortgage rates. The sharp increase in purchases could help drive more employment in the construction sector and broader economic growth, potentially offsetting the setbacks to growth in the manufacturing sector caused by cheaper oil prices and a stronger dollar that has hurt exports. Much of the increased buying activity flows from a stronger job market and relatively affordable mortgage rates.
Comment on US new-home sales in May climb to best levels since 2008
By JOSH BOAK, AP Economics Writer, Seattle Post-Intelligencer: Business
Tue, 06/23/2015 - 8:00am
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