Existing home sales rise 12%

Discussion in 'Politics' started by Chris, Dec 23, 2011.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney) -- The modest housing market winning streak continued as the Census Bureau reported Friday that sales of new homes rose again in November to an annualized rate of 315,000.

    That was up 1.6% compared with the revised October rate of 310,000 and 9.8% higher than November 2010.

    The good news followed other recent positive industry reports. November sales of existing homes rose 12% year-over-year; homebuilding spiked nearly 21% compared with 12 months ago; and mortgage rates hit record lows this week.

    New home sales edge up 1.8% - Dec. 23, 2011
     
  2. chikenwing
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    chikenwing Guest

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    Good news,we have a ways to go,but positives are a good thing.
     
  3. Chris
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    Chris Gold Member

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    Auto sales are up, retail sales are up, and home sales are up.

    The recovery continues....
     
  4. American Horse
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    American Horse AKA "Mustang"

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    Indeed; we need 700,000 new units a year and we've got about half of that being built. Some builders see potential markets for special taste homes and are building to meet that potential. They feel a need to do something, or leave the business completely. There are also those developer/builders who already had unsold developed lots in inventory, are paying interest on it, and feel they can build to unload the land with a house on it, as a better option than doing nothing.

    People are also seeing that they can't get that great deal in the house or location they want, and are deciding to build what they want where they want for the longer term.
     
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    Last edited: Dec 23, 2011
  5. DaGoose
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    DaGoose Gold Member

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    Now all we need is a RW'er to put a negative spin on this............:evil:
     
  6. whitehall
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    whitehall Gold Member

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    The dirty little secret is that it took about two years after mortgage foreclosures to get rid of the property to speculators and the ignorant left thinks it's good news. The spike is bad news for the poor folks who lost their homes. If people were dying of the plague the left would find a way to put a happy face on it if a radical leftie was in office.
     
  7. Chris
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    Chris Gold Member

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    So home sales going up by 12% is a bad thing?

    Right....
     
  8. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Wait a cotton pickin' minute thar! Aint them there NEW home sales whats drive the economy? On acountin' theys makin' them thar new homes whuts supports a whole raft of other businesses and sorts?

    How do buyin' and sellin' places that's a already thar supposed to help people? Other than the big ole banks thats a chargin interest, and them there "house sellin people" who make fees off uh pushin' paper around, who do it helps? :confused:

    New-Home Sales Rise 1.6% but 2011 Figures Dismal
    Ah shore am puzzled at this here information that Mr. Chris posted!
     
  9. Chris
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    Chris Gold Member

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    Existing homes sales drive the economy as well.

    You don't know much about economics, do you?
     

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