New Home Sales Up
December 17, 2007
New single-family homes sales are finally heading in an upward direction, at least for the last reported month. Home sales increased by 1.7 percent in October compared with the previous month, according to a report from the U.S. Commerce Department. October’s seasonally adjusted annual sales rate was 728,000 units.
"The progressive tightening of mortgage lending during this year has been the major factor behind the setback in home sales," said David Seiders, chief economist for the National Association of Home Builders. "We expect home sales to begin a gradual recovery in the early part of 2008."
Posted in All Things San Diego, Lending, Local Business, Real Estate, Things of Interest
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