Sales of newly built, single-family homes rose 14.5% to 501,000 units in 2015, the highest level since 2007, according to newly released data from HUD and the U.S. Census Bureau. Meanwhile, sales in December increased 10.8% to a seasonally adjusted annual rate of 544,000 from an upwardly revised November reading.
“The December sales report is a great end to a very strong year,” said Ed Brady, chairman of the National Association of Home Builders (NAHB) and home builder and developer from Bloomington, Ill. “As we move forward in 2016, we should see the housing market continue to make lasting gains.”
“Relatively low interest rates and an improving economy are motivating buyers to make a new-home purchase,” said NAHB Chief Economist David Crowe.
Sales increased in all four regions in December. The Midwest, West, Northeast and South all posted respective gains of 31.6 percent, 21 percent, 20.8 percent and 0.4 percent.
