Home Prices In June Show Increase
STEVE INSKEEP, host:
Home sales have been picking up. The government said that in June, home sales showed their largest monthly increase in more than eight years. And that is raising hopes that the housing market is beginning to recover.
NPR's Wendy Kaufman has more.
(Soundbite of construction work)
WENDY KAUFMAN: In Issaquah Highlands Development in Seattle's eastern suburbs, sold signs adorn new houses and construction workers are building still more. I caught up with Chad Clacky(ph), who was pouring foundations for new townhomes. Have you seen business pick up a little bit?
Mr. CHAD CLACKY: I have seen it pick up a little bit in the last recent couple weeks.
KAUFMAN: Tell me, when you were busy, how busy might you have been and how is it now?
Mr. CLACKY: When it was real busy, I would do four to five foundations a day and now I'm doing between two and three.
KAUFMAN: And what do you think the prospects are, going forward?
Mr. CLACKY: There's definitely started to pick up. I can - I talk to all the cement truck drivers and whatnot and it's slowly picking up.
KAUFMAN: The state's largest homebuilder, Quadrant, recently raised its construction rate. It had been building about a 110 houses on any given day. Now that number is up to more than a 160. It's first time homebuyers who are entering the market. They're being drawn in by low prices, low interest rates and the $8000 federal tax credit.
Wendy Kaufman, NPR News, in Issaquah, Washington.
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