New home sales up for second consecutive month: HIA

Sales of new homes increased for the second month in a row in May, according to the HIA New Home Sales report.

According to the Housing Industry Association’s (HIA) New Home Sales report, sales of new homes increased by 9.4 per cent in the month of May 2023 when compared to the previous month, with sales in the last three months being 4.4 per cent higher than the previous quarter.

HIA senior economist Tom Devitt said sales increased for the second consecutive month despite the continued rise in interest rates.

Extract Thanks to Adrian Suljanovic 20-6-23