New Home Sales Up

real estate sign, Dec 23, 2011, Eric Miller learned from CNNMoney that new home sales rose in November. The report, released by the U.S. Census Friday, indicates the annualized rate of 315,000 is up 1.6 percent compared with the revised October rate of 310,000 and 9.8 percent higher than November 2010. It all may be adding up to a rebound of sorts for the housing industry. The Census report follows a rise in sales of existing homes of 12 percent year-over-year; a 21 percent spike in homebuilding and record low mortgage rates. Inventory is also lower, which could aid the market for manufactured homes.

(Image Credit: Eric Miller)

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