Sales of newly built, single-family homes rose for a third consecutive month in May, posting a 2.1 percent gain to a seasonally adjusted annual rate of 476,000 units.
Nationwide housing starts rose 6.8 percent to a seasonally adjusted annual rate of 914,000 units in May due primarily to increased production on the multifamily side, according to data from HUD and the U.S. Census Bureau.
The eight-point jump was the first time the index has been above 50 since April 2006 and represented the biggest one-month gain since August and September of 2002, when the HMI recorded a similar increase of eight points.
Cool-roof material choices have expanded from reflective paint to vinyl sheeting, light-colored gravel, and other roofing products designed to reflect 90 percent of sunlight.
The number of U.S. housing markets on the mend rose by five to a total of 263 in June, according to the National Association of Home Builders/First American Improving Markets Index (IMI).
During National Homeownership Month in June, the National Association of Home Builders is telling young people the time is right to buy a house, and that the nation's builders are building the homes they want.
Apartment owners have a few months to enjoy tight supply growth before a large number of new multifamily properties come online, according to Reis, a provider of commercial real estate information and analysis.
Home prices in March rose by 10.9 percent from a year earlier, the largest such gain in seven years, according to an index tracking home prices in 20 U.S. cities.
Sales of newly built, single-family homes rose 2.3 percent to a seasonally adjusted annual rate of 454,000 units in April, according to newly released figures from HUD and the U.S. Census Bureau.
