January 10, 2007

New Home Sales Rising

New Home Sales Rising

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According to a government report, homebuilding, one of the most battered sectors of the U.S. economy in recent months, showed surprising strength in November.

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New homes sold at an annual pace of 1.05 million, up from the revised annual rate of 1.01 million in October. Economists surveyed by Briefing.com had forecast that home sales would rebound to a 1.02 million pace.

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The median average home price came in at $251,700 in November, up from the $248,500 level in October. The median price, that is, the point at which half the homes sell for more and half sell for less, had shown declines earlier in the fall because of a glut of homes available for sale on the market.

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Get the full story here…

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If you're in the market for a new home, tell us how you feel about the current state of new home sales.� Does it make you feel inclined to wait, or hurry, with a new home decision.� We'd love to hear your comments.

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