Monday, October 27, 2008

We All Could Use Some Good News.

CNNMoney reports that new construction home sales rose in September.   From August, the sales increased 2.7% to an annualized aggregate of 464,000.  

The significance of this number may be diminished by the fact that most of these sales were in process before the bulk of the public front of the financial crisis began.  However, it is good news in that the increase was in new homes – not just existing residences.

The rash of bargains created by foreclosure sales have pumped up other home sales numbers.  And not many people are cheered that there are a lot of foreclosures going on.

We all wait with baited breath to see what October sales look like.

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