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Tags: Ever since the recession started there was a major decline in newly constructed homes being built and sold. But a recent study shows that new construction home sales rose in June and as a result construction spending rose due to builders constructing more new homes to be sold in the months to come.
Th Commerce Department said that construction spending rose by a seasonally adjusted annual rate of 0.3% in June which went against analysts original estimates which predicted a 0.5% drop in spending.
The rise in existing home and new construction sales is a ripple effect of the many resources and opporitunities that home buyers have access to such as low interest rates, affordable sales prices and the federal tax credit for first time homeowners.
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