The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who started this subject	12/28/2001 10:51:42 AM
From: AC Flyer	Read Replies (1) of 306849

New Home Sales Surge in November Reuters Finance News Dec 28 10:09am ET WASHINGTON (Reuters) - The U.S. residential real estate sector continued recession-resistant in November, as homebuyers snapped up new houses at the fastest pace since March, the government said on Friday. The Commerce Department said new homes sales rose 6.4 percent in November to a seasonally adjusted 934,000 annual rate. The clip was the fastest since March's 953,000 annual rate and the gain was the largest monthly percentage jump since December 2000. The figures were stronger than Wall Street analysts had been expecting and showed the impact of relatively low mortgage interest rates combined with unseasonably warm weather for the month. In a survey of economists by Reuters, the average forecast called for home sales to post a much smaller rise to about an 888,000 annual rate. November's sales gain was the second in a row. October sales were revised downward slightly, to an 878,000 annual rate from the previously reported 880,000 pace.

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