Sales Of New Homes Jump 13% In October

Sales of New Homes Jump 13% in October(November 30, 2005) -- New-home sales rose 13 percent last month to an annual rate of 1.42 million units, the U.S. Commerce Department reports. Some analysts believe the surprising figures can be attributed to buyers rushing to beat higher interest rates or take advantage of builders' incentive programs.

Regionally, new-home sales surged 47 percent in the West, 43 percent in the Northeast, and 1.9 percent in the South but slipped 9.5 percent in the Midwest. However, the big increase is being questioned by David Seiders, chief economist for the National Association of Home Builders, and David Lereah, chief economist for the NATIONAL ASSOCIATION OF REALTORS®, both of whom anticipate revisions in the report. Source: Washington Post (11/30/05); Fleishman, Sandra

Chris Dowell
www.DowellTaggart.com
Keller Williams Realty Partners, Inc.
Serving Greater Kansas City, including Olathe, Gardner, Overland Park, Lenexa, Shawnee & Leawood.