New Home Sales Rise, but Prices Looking "Toppy"

Posted To: MND NewsWire

New home sales continued their recent pattern of advancing and retreating in alternate months. The Census Bureau and Department of Housing and Urban Development said that sales of newly constructed homes were on the offense in November, rising 5.2 percent after a 1.9 percent loss in October. Sales were estimated at an annual rate of 592,000 units compared to a rate of 563,000 the previous month. The sales report said the October number was revised, but the revision was apparently lost in rounding. Sales continued to outstrip those during the same month in 2015. The recent number was up 16.5 percent from the estimated sales of 508,000 a year earlier. Analysts had expected November sales to improve on October’s, but they undershot the mark. A poll by Econoday found a consensus of 580,000 units…(read more)

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New Home Sales Rise, but Prices Looking "Toppy"
New Home Sales Rise, but Prices Looking "Toppy"

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