Possible good news for buyers: It appears that new home construction is finally on the rise
Possible good news for buyers: It appears that new home construction is finally on the rise in the U.S.
Homebuilders have been busy this summer—and that might make the home-buying search better for many Americans on the prowl for the place of their dreams.
Builders received 7.4% more permits to put up new homes in June compared with May, according to the seasonally adjusted numbers in the latest residential sales report jointly released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development. That's a 5.1% increase over June 2016.
After a dip in May, that brought the number of new abodes on the horizon up to 1,254,000. That's in line with the number of permits granted in the previous 12 months. (Realtor.com® looked at only the seasonally adjusted numbers in the report. These have been smoothed out to account for seasonal fluctuations.)