Tuesday, January 5, 2010

nothing new home sales in November tumble

The number looks bad...probably due to the winter season in most of the U.S.

The data on contracts follows a recent government report that new home
sales plunged 11.3% in November. Experts said the November drop in home
contracts and in new home sales reflected a falloff after a surge in activity as
buyers rushed into the market to take advantage of the tax credit before its
initial expiration Nov. 30. Congress in November extended that credit through
April and expanded it to include a $6,500 incentive for some buyers who already
own a home.