New home sales see unexpected gain
October 25th, 2007, 11:09 am · Post a Comment · posted by mistywilliams
It’s not all bad news coming out of the housing market saga.
Analysts had projected a decline in new home sales in September but had a surprise coming to them.
New home sales rose 4.8 percent last month to a seasonally adjusted annual pace of 770,000 units, according to the Commerce Department. That’s 23.3 percent below the September 2006 estimate of 1 million units.
The median sales price also rose last month, hitting $238,000.
