Sales of new single-family homes rose nearly 8% from December to an annual rate of 764,000, the highest since July 2007, above the 720,000 expected. Sales were up nearly 19% from January 2019.
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Good news for homeowners!! Home prices rose annually in November for its largest 12-month gain since February. CoreLogic reports that home prices nationwide, including distressed sales, rose 3.7% year over year in November 2019 compared to November 2018.
Privately-owned housing starts rose by 3.2% in November from October to an annual rate of 1.365 million units, above the 1.34 million expected. The all-important single-family sector saw starts rise by 2.4% monthly and jumped nearly 17% year over year. Overall, a solid report!
The Census Bureau reports that sales of new single-family homes declined in October. New Home Sales fell 0.7% last month to an annual rate of 733,000 units, above the 710,000 expected. The 738,000 in September was the highest since July 2007.
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