Landscape Architect Articles

Not Only Is the Pain Lessening, Housing Is Showing Improvement08-14-09 | News

Not Only Is the Pain Lessening, Housing Is Showing Improvement

Both new and existing home sales also have been up in each of the last three months and builders continue to make good progress in reducing their inventories of new homes.

Housing has clearly been one sector where the economic news has been a little happier. Single-family housing permits now have increased for the third consecutive month and starts have increased for four months in a row.

The NAHB/Wells Fargo Housing Market Index (HMI), after bumping along at historic lows in single digits for five months beginning late last year, has been in double digits for the past four months. The July reading of 17 was up from 15 in June. As of June, inventories of new single-family homes for sale stood at 281,000, their lowest level in 11 years.

Meanwhile, the months?EUR??,,????'??? supply ?EUR??,,????'??+ answering the question, ?EUR??,,????'??How long would it take to sell the current inventory of homes based on this month?EUR??,,????'???s sales rate??EUR??,,????'?? ?EUR??,,????'??+ fell from 10.2 months in May to 8.8 months in June. ?EUR??,,????'??? Courtesy of NAHB