Does the New Home Market Point to an Overall Turnaround Trend?
Home starts for new building in the U.S. gained 16% from June to an eight-month high in July. This trend appears to be continuing in the Jacksonville New Home market as well. Model homes and new homes in Jacksonville are going up faster than ever and the market interest for new homes appears solid in the area.
Stocks rose with the news as it carries a potential signal that the overall economy continues to improve.
Increases in construction illustrate sustained, broad effects on the economy.
Housing construction is one of the better drivers for economic movement, economists say.
As homes get built, laborers, materials and management personnel are needed. Also, new-home buyers frequently purchase new items to go into their new homes like durable goods and electronics.
Arthur Rutenberg Homes is excited to be a part of the trend of improvement in the Jacksonville area.
For more information about the home market, click here for the Commerce Department Monthly Report