Housing holds steady

WASHINGTON -- Helped by persistently low mortgage rates, the broad U.S. housing market held relatively steady during May, holding on to last month's gains, with housing starts and new home sales advancing, while sales of lower- priced existing homes dipped slightly.

Following up on an 11 percent increase the prior month, housing starts moved up only slightly, edging ahead 0.2 percent to a seasonally adjusted level of 2.01 million units. New home sales picked up 2.1 percent after a modest 0.2 percent increase during May.Sales of existing homes, which account for roughly 70 percent of the total U.S. housing market, backed off modestly, slipping 0.7 percent after rising 4.5 percent the preceding month. But even with the dip, resales were at their second highest pace on record, the National Association of Realtors reported.

Home & Textiles Today Staff | News & Commentary

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See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!