New Home Sales Blast Past Expectations
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In the wake of positive real estate news locally, we finally get some relief on the national level. Recently Boulder was named the strongest real estate market in the country by Business week, read more here and Denver was named the #1 rebound market in the country by Barbara Corcoran, real estate expert on the Today Show, watch the video clip here!
Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September. New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development.
That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000.
The news followed other positive housing market reports earlier this month, including a spike in existing home sales, home prices and affordability.
Read the full article by By Les Christie, CNNMoney.com staff writer