New home sales across the U.S. increased by 7% from 2012 although the pace slowed during December. This same trend was pretty much true in Las Vegas as well. Home sales were very strong over the year but tapered off at the end of the year. The market seems to be emerging from the downturn.
U.S. sales of new homes fell in December for a second consecutive month but even with the pause at the end of the year, sales for all of 2013 climbed to the highest level in five years.
Sales of new homes dropped 7 percent last month to a seasonally adjusted annual rate of 414,000, the Commerce Department reported Monday. In November, sales had fallen 3.9 percent.
For the whole year, sales were up 16.4 percent to 428,000, the highest level since 2008.
As the Nevada Department of Employment, Training and Rehabilitation’s employment report released yesterdauy indicated, employment in construction was down in December compared to December 2012 and also to November 2013.
But the average for the entire year was up and even the December number was higher than every month in 2012 except December.