New Home Sales Up
November 22, 2007
Newly constructed home sales increased in September, recovering from very sluggish activity during the summer months, it was noted in a Commerce Department report. Sales increased by 4.8 percent over the previous month. However, sales were still down by 23 percent over the past year.
At the same time, sales of existing homes and condos fell 8 percent in September to the lowest level in at least eight years, according to the National Association of Realtors. Inventories of existing homes rose 0.4 percent at the end of September to 4.4 million available units for sale, representing a 10.5-month supply at the current sales pace. There was a 9.6-month supply at the end of August.
Posted in All Things San Diego, Lending, Local Business, Real Estate
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