New Home Sales Best In Over Two Years:
New U.S. single-family home
sales surged in September to the highest level in nearly 2-1/2 years, further
evidence the housing market recovery is gaining steam.
The Commerce Department said on
Wednesday that new home sales increased 5.7 percent to a seasonally adjusted
389,000-unit annual rate -- the fastest pace since April 2010, when sales were
boosted by a tax credit for first-time home buyers.
The median price of a
new home jumped
11.7 percent from a year ago.In a separate report, the National Association of Realtors said that Pending Home Sales increased by 0.3% on a month-over-month basis and jumped 14.5 percent from a year ago.
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