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« Recessionomics: Tim Geithner Can't Sell House, Either | Main | Housing Market Shows Some Signs Of Recovery »

New US home sales up 11% in June

New house sales in the US jumped by 11 per cent in June, providing some of the strongest evidence yet that the market has bottomed out after being savaged for three years.

Greater demand is also chipping away at the housing glut. Last month the supply of new homes fell by 4.1 per cent to 281,000. That was the lowest level since 1998 and represented an 8.8 months supply of new homes, down from 10.2 in May.

» FT [ Contribute: submit link / submit article ]

Posted at 09:35 AM |

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