Several major homebuilders have reported strong annual increases in orders for the first three months of the year. That includes the start of the spring home-selling season, the traditional peak period for sales.
Ryland Group Inc. said this week that orders in April jumped 59 percent from a year earlier. And over the first three months of this year. orders have jumped 54 percent.
Though new homes represent only a fraction of the housing market, they have an outsize impact on the economy. Each home built creates an average of three jobs for a year and generates about $90,000 in tax revenue, according to data from the homebuilders' group.