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

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Why you should go to Shanghai for Intertextile Home Textiles

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!