A second straight good-news post: New home sales rise, too
It’s hard not to be negative when you’re writing about residential real estate. But yesterday I posted about an increase in the sales of existing homes. Today, I’m spreading a bit more sunshine: The sales of new homes increased in July, too.
According to the National Association of Home Builders, the sales of newly built homes rose 2.4 percent in July.
To the home builders association’s credit, its officials aren’t pointing at the sales figures at signs that the problems of new home builders are over. The group’s chief economist, David Seiders, pointed out that the July figures came on the heels of two consecutive months of significant sales drops.
Still, builders have to be thrilled to get any bit of good news these days. The housing slump has devastated the home-building industry, with builders across the country going out of business.
We can only hope that the sales increases, in both existing and newly built homes, are a sign of more good news to come. We’ve certainly all had our fill of bad news.
State court’s ruling a blow to builders
The Iowa Supreme Court in late January ruled that homeowners can sue builders for poor workmanship even if they aren’t the original owners of the home.
Robert and Beverly Speight, of Clive, Iowa, bought their home in 2000. The house was originally built for a different owner in 1995. Shortly after moving in, the Speights noticed water damage and mold at their home. A building inspector determined that the damage was caused by a roof and rain gutters that were not built properly.
The Speights in 2003 filed a lawsuit against the builder, Walters Development Company. You can read the full story here.
No one knows yet what the results of the lawsuit will be. There’s no guarantee that the Speights will win their case. But the fact that the couple is able to bring the case to court is a victory for homeowners.













