Cleaning & Restoration Breaking News

U.S. New Home Sales Up, Durables Down

June 24, 2004
/ Print / Reprints /
/ Text Size+
WASHINGTON (Reuters) - Buyers rushing to beat rising U.S. mortgage rates pushed new home sales up by nearly 15 percent to a record in May, while businesses saw weaker demand for long-lasting durable goods, government reports showed on Thursday.

The Commerce Department said sales of new homes surged a whopping 14.8 percent -- their biggest monthly gain since April 1993 -- to a record annual rate of 1.369 million units.

A separate report from the Commerce Department showed orders for durable goods, which are items meant to last three years or more, posted an unexpected drop in May, falling 1.6 percent after a 2.6 percent slide in April.

This was the first time since November-December 2002 there were back-to-back decreases in orders.

Meanwhile, the Labor Department said the number of Americans seeking jobless benefits rose more than expected last week. However, the number was elevated by claims from those who were unable to file when government offices were closed during the June 11 funeral for former President Ronald Reagan.

The private sector Conference Board had better news on the job front, saying its index of U.S. help-wanted advertising improved to 39 in May from 38 in April.

Economists said the reports taken together showed the U.S. economy was still continuing its rebound from the 2001 recession but was showing signs, after three quarters of sizzling growth, of cooling down to a more sustainable pace.

"Some kind of reasonable cool-down could be welcome," said Anthony Karydakis, senior financial economist with BancOne Capital Markets in Chicago.

A solid but not overheated growth rate would comfort Federal Reserve officials, who are set to meet next Tuesday and Wednesday amid widespread expectations they will raise short-term interest rates in an attempt to head off inflation.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Don't underestimate the value of a good Internet marketing plan. In fact, if you do this right, it's not uncommon to see ROI along the lines of 30-to-1. Here's a look at 27 free and low-cost tips that you can begin implementing within your cleaning business today to drive more business.
More Podcasts

ICS Cleaning Specialist Magazine


2014 August

The August issue of ICS features stories on carpet mold, good training, marketing for cleaners, traffic lane cleaning, and cool products.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive


Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.pngcrc logo