Good Signs: Home Sales Are Up; Builders' Confidence Is Also Higher | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Good Signs: Home Sales Are Up; Builders' Confidence Is Also Higher

Two positive economic indicators:

-- "Sales of existing homes increased in October, even with some regional impact from Hurricane Sandy, while home prices continued to rise due to lower levels of inventory supply," the National Association of Realtors reports.

Its says homes sold at a 4.79 million annual rate last month, up from 4.69 million in September. Meanwhile, the "national median existing-home price for all housing types was $178,600 in October, which is 11.1 percent above a year ago. This marks eight consecutive monthly year-over-year increases, which last occurred from October 2005 to May 2006."

-- " Builder confidence in the market for newly built, single-family homes posted a solid, five-point gain to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November, released today. This marks the seventh consecutive monthly gain in the confidence gauge and brings it to its highest point since May of 2006."

Bloomberg News looks at the reports (here and here) and concludes they're additional signs that the housing sector is on the mend. And a healthy housing sector is critical to the economy — not just for the construction jobs it supports, but for the job growth it triggers in other sectors as new homeowners furnish and fix up their houses.

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

What's A Writer Gotta Do To Get A Little Health Care Around Here?

When you're making plans to become a famous author, just remember that you're going to want health care — especially when 40 rolls around and your body is no longer made of rubber.
NPR

When Zero Doesn't Mean Zero: Trans Fats Linger In Food

One in 10 packaged foods still contains trans fats, according to a new study. The problematic oils give foods a rich taste and texture and extend shelf life, but have been linked to heart disease.
WAMU 88.5

Testimony Wraps In McDonnell Trial, Closing Arguments Expected Friday

Leaving the courthouse this afternoon, the former Virginia governor said he was confident in his legal team's defense: "We've got three of the best law firms in the country that are working on this case."
NPR

New Amazon Series Pilots Fall Short Of A TV Revolution

NPR TV critic Eric Deggans ranks Amazon's new batch of five series pilots, asking why none of them seem break the rules of TV quite enough to draw attention.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.