Monday, October 27, 2008

More New Homes Sold

The economy is on everyones' minds, as is the housing market, which appears to be rebounding. Sales of newly constructed homes were up in September. According to the US Census Bureau, the sales rate for new homes rose 2.7 percent from August's rate. The annuzliazed rate for September, 464,000, was above consensus forecast of 450,000, according to economists surveyed by

New homes sales are still down compared to last September, however real estate agents are seeing pick-up in housing markets were prices fell. Economists and real estate agents agree that new home sales will remain low, but the numbers are getting slightly better. This news from the Census Bureau is a glimmer of hope.

Originally reported by CNNMoney.

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