WALL STREET JOUORNAL: Sales of new homes jumped in September to their highest level in more than two years, the latest sign that the housing market is on firmer ground after a bruising five-year downturn.
Builders were on pace to sell new single-family homes at a seasonally adjusted annual rate of 389,000 units in September, the Commerce Department said Wednesday, up 5.7% from August, and 27.1% higher than September 2011’s annual pace of 306,000. The level is the highest since April 2010, when first-time home buyers were rushing to qualify for a tax credit.
The median price of a new home was $242,400 in September, up 11.5% from a year earlier, but down from $250,400 in August… (more)
