Sales of newly built, single-family homes increased 3.7 percent last month, reaching a seasonally adjusted annual rate of 555,000 units according to a Commerce Department report. “We can expect further growth in new hoe sales throughout the year spurred by employment gains and a rise in household formations,” says Robert Dietz, chief economist of the National Association of Home Builders. “As the supply of existing homes remains tight, more consumers will turn to new construction.”
