New, single-family home sales shot up 16 percent from the previous month to a seasonally adjusted annual rate of 619,000, according to a joint report from the U.S. Commerce Department and the U.S. Department of Housing and Urban Development. It was the fastest pace of new home sales since January 2008.
This is welcome news for pool builders and the leisure aquatics industry in general, as housing starts are a leading economic indicator of the health of the pool industry. New home construction is a prime opportunity for pool building and strong home values in general provide the financial basis for pool and spa purchases.
Also, the median price of a new home rose to $321,100 last month, a 9.7 percent year-on-year increase and the highest level on record.
Overall, these are some of the best housing numbers reported since the recession and are a sign of improved pool, spa and accessory sales in the future.