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July new home sales disappoint
Sales of new homes slipped 2.4 percent in July from June numbers, to an annual rate of 412,000, according to data from the Census Bureau and Department of Housing and Urban Development.
“We are somewhat surprised by this dip, considering builder confidence and new-home starts are on the rise,” said Kevin Kelly, chairman of the National Association of Home Builders and a home builder and developer from Wilmington, Del.
The group’s chief economist, David Crowe, remained optimistic for an uptick later this year.
The average price of a new home sold in July — $339,100 — was up 2.8 percent over July 2013.
Continued low levels of first-time homebuyers is weighing against new home sales, warned Stephanie Karol, a U.S. economist for forecaster IHS Global Insight.
“When move-up demand accounts for such a vast majority of existing home sales, it implies a low rate of household formation and thus low demand for new housing stock,” Karol cautioned.
Home & Garden
The Planning Board voted unanimously on Monday night in favor of a request for final approval of a five-unit, detached elderly housing development at 99 Pulpit Road.READER COMMENTS: 0
John Wilder can just look at a rock and know what to do with it. He knows where it goes, knows if it's any good, knows its limits. But more importantly, he knows all that humble rock could be.READER COMMENTS: 0
For years, Tafi Brown’s path led to pottery, until one day while at a random workshop, she discovered quilting. And now, for nearly 40 years she has been making cyanotype art quilts.READER COMMENTS: 1
The Woodshed Restaurant in Moultonborough, which burned to the ground in a Thanksgiving night fire, is coming back in the form of an 1810 barn that will be moved to the site.READER COMMENTS: 0
Devriendt Farm, located at 178 South Mast Road in Goffstown, is preparing to expand onto a nearby 140-acre property, the latest evolution of the family-owned business.READER COMMENTS: 0
If you want to give your home an updated and timeless look, consider transitional style — an interior designing trend that blends classic traditional and contemporary looks.READER COMMENTS: 0
The Windham board of selectmen will meet again in November to finalize details on the future sale of unused town lands.READER COMMENTS: 0
A local military family is one step closer to having their dream home ready, thanks to the help of a non-profit organization dedicated to providing custom houses for veterans, the Home Depot, a...READER COMMENTS: 0
Rhonda Besaw specializes in traditional and contemporary Wabanaki beadwork.READER COMMENTS: 0
After being tabled by the Planning Board in August, two final approvals for the proposed John Goffe Plaza on the site of the former Wayfarer Inn were delayed once more by the board at their Monday...