Housing holds steady.
Home Textiles Today, July, 2005 by Hogsett, Don
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 on a big 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 April. 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...
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