According to an article published on Monday, October 27th on yahoo.com, New homes sales rose 2.7%, while economists expected sales to drop.
This rise in sales is credited towards many builder offered incentives to help liquidate the glut of inventory. As inventory slowly dwindles down, the natural cause and effect will lead to prices rising.
"Last Friday, the National Association of Realtors said sales of existing homes rose 5.5 percent in September, the largest monthly gain in more than five years," according to the article on yahoo.com .
I am encouraged by this news, especially since my focus is centered around new construction.
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