New Home Sales

New Home Sales Rebound; Increase Beats Analyst Expectations 

As if the debate over the where the real estate markets will go in 2007 needed any further confusion, statistics released today by the Commerce Department showed that new home sales rebounded strongly during November, registering a monthly increase for the third time in the past four months and more than doubling analyst expectations. Sales of new one-family houses in November 2006 were at a seasonally adjusted annual rate of 1.05 million units. That represents a 3.4 percent increase above the revised October rate of 1,013,000, but is 15.3 percent below the numbers reported one year ago.