Home Sales Data
After some terrible data to end last month, the housing industry received a bit of good news in December from the U.S. Census.
According to the agency, 444,000 new homes were purchased in October – an increase of 90,000 (or 25.4 percent) from September. That represented the largest one-month jump in thirty-three years.
Sort of. September’s home sales were also reported, and they showed a decline to 354,000 (the lowest mark of the year).
Also, the average price of a home is plunging. In October, the median price of a new home fell to $245,800 from $257,400 in September – or about $33,500 below the annual high of $279,300 posted in April.
Funny how more people buy stuff when the price is lower, isn’t it?
Wait … don’t tell the government that. Such common sense confounds our leaders.