New Home Sales Post Second Straight Month of Gains

A report issued by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new homes increased for the second straight month, rising by 4.8 percent over sales in November 2006. According to Quicken Loans, the increase means December new home sales were at their highest level since April 2006. As per the economists the increase is good news for a housing sector that had seen some set-backs earlier this week. The report of increased new home sales comes as a big relief to many, following a week of otherwise discouraging real estate. [ Quicken Loans, January 26, 2007]