Sunday, November 4, 2007

Sale of New Homes Up

Finally, some good news. Nationwide, sales of new homes posted an unexpected gain in September. The Commerce Department reported Thursday that sales of new homes rose by 4.8 percent last month to a seasonally adjusted annual rate of 770,000 units. That level of activity was still 23.3 percent below a year ago, indicating that housing remains in a steep downturn.

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