Under Secretary Blank Statement on June 2009 Residential Sales Numbers

The U.S. Bureau of the Census released new residential sales for June 2009. Sales of new one-family houses rose 11.0 percent in June, well above the rise of 2.3 percent expected by private-sector analysts.

“The evidence is clear that home buyers are taking advantage of Recovery Act tax incentives, declines in home prices and relatively low mortgage rates,” U.S. Under Secretary for Economic Affairs Rebecca Blank said. “Both new and existing homes have become more affordable. While the economic environment remains difficult, as more Recovery Act dollars hit the streets, we anticipate that it will further bolster the economy in the coming months.”