WASHINGTON, April 24 (Xinhua) -- As the demand for cheaper houses grows in the United States, home builders who can produce affordable houses would achieve better sales, according to a report released by National Association of Home Builders (NAHB) on Wednesday.
Based on the U.S. Census Bureau's newly-released March home sales, NAHB said the reading of new home sales in March is the highest sales pace since November 2017.
The national association figured out more details related to housing affordability.
"We saw a large gain at lower price points where demand is strong," said Robert Dietz, chief economist of NAHB. According to Dietz, 50 percent of new home sales were priced below 300,000 U.S. dollars in March 2019, compared to 39 percent for the same time a year ago.
"These are the price points that are attractive for renters seeking to become homeowners," said Dietz.
"These numbers indicate that builders who can produce housing at affordable price points will experience sales growth," said Greg Ugalde, chairman of the NAHB.
However, Ugalde noted that builders in the United States were still dealing with a shortage of construction workers and buildable lots, which could limit housing affordability.
Sales of new single-family houses rose 4.5 percent to a seasonally adjusted annual rate of 692,000 units in March, the Census Bureau reported on Tuesday. Compared to the reading of 672,000 in March 2018, the sales figure rose 3 percent.
