Construction, housing show strength
Existing home sales set a record in January, 2002, reflecting growing consumer confidence that the economy is improving. For the first time ever, sales exceeded 6 million units, a 16 percent jump from December.
Additionally, estimates released jointly at the end of February by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development showed new homes sales in January 2002 to be down about12 percent from last year, but still showing signs of strength.
These statistics are especially encouraging because of the influence that housing and construction have on the landscape industry. Construction spending was up in January compared to both the previous month and to January of last year.