New home sales rose 0.8% in June. It was the first quarterly improvement since the December 2017 quarter, according to a report by the Housing Industry Association (HIA).
The slight improvement in sales during the June quarter suggests that the decline in new home sales was beginning to ease, said IHA Chief Economist Tim. Reardon.
According to Reardon, the slowdown in the building industry also had benefits.
"The advantage of the current downturn in the building industry is that activity levels have synchronized on the east and west coasts – and within each state – allowing decision-makers coordinate more easily the political parameters, "said Reardon.
According to Reardon, two interest rate cuts, a tax cut and the repeal of regulatory restrictions would also encourage increased activity in the residential construction market.
"These measures, combined with the steady stability of the population and the growth of employment, should help improve sales of new homes by the end of the year," he said. said Reardon.
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