The US Commerce Department reports that sales of new homes rose in August to the highest level since 2008, a healthy portent for the pool and spa industry, which is economically tied to the housing market. Analysts noted that if this burst in demand can be sustained, it would lead to a stronger construction market.
Overall, new-home sales climbed 18 percent in August from July, to a seasonally adjusted rate of 504,000 units, according to the Commerce Department statement. It was the biggest month-to-month increase in sales since 1992.
While new-home sales represent only about a tenth of the total housing market, and for the last several years data has been quite volatile, this report, taken together with recent rises in home-builder optimism, offer hope that the home construction market could finally be accelerating.
