- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Nov. 21, 2014
- Marshall University receives in-kind software grant from Siemens PLM Software
- Marquee Pullman & Pullman Square Turn 10
- Manchin Statement on President's Immigration Executive Actions
- Bates Supports Budget Reductions to Offset Shortfall Projection
- Marshall Men's Basketball: Herd Falls to Seventh-Ranked Louisville, 85-67
- US Attorney Collects Over $8 Million for Taxpayers
- Bankruptcy Court Awards West Virginia DEP $2.7 Million
- Schray earns national honors as top professor in West Virginia
- Local writers Marie Manilla and Nicole Lawrence to read from their work at Marshall University
U.S: New Home Sales Rise 6.4% in April
“Builders are gradually increasing sales, but tight credit conditions, particularly for first-time home buyers, are impeding a more robust recovery,” said Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Wilmington, Del.
“In a positive development, builders are adding inventory in anticipation of a further release of pent-up demand,” said NAHB Chief Economist David Crowe. “We are only about half-way back to what could be considered a normal market, but relatively low mortgage rates and affordable home prices are other factors that should help keep starts and sales on a slow upward trajectory in the months ahead.”
On a regional basis, new-home sales rose 47.4 percent in the Midwest and 3.1 percent in the South and held steady in the West. The Northeast posted a 26.7 percent decline.
The inventory of new homes for sale increased to 192,000 units in April. This is a 5.3-month supply at the current sales pace.