June new home sales soared across the nation to it’s highest levels in 5 years according to the U.S. Commerce Department. Sales across the country rose almost 8.5% over Mays sales. Overall sales have risen 38% in the last 12 months making the biggest annual gain since January 1992.
Housing sales have been instrumental in the nations economic growth and overall health. While new-home sales make up only a small portion of the market, each home built creates an average of three new jobs and spurs more spending at furniture stores, moving companies, home improvement stores, hardware and of course, helps keep the real estate business successful. To these companies you have to add escrow, title companies, appraisal companies, mortgage finance companies, landscapers and architect companies, and all the construction trade companies involved.