- Sixteen individuals, Mid-Ohio Valley Club to be honored at awards banquet
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Apr. 23, 2014
- BOOK REVIEW: 'How to Write Anything: When Laura Brown Says 'Anything', She Means 'Anything'
- BOOK REVIEW: 'The Opposite of Loneliness': Marina Keegan's Posthumous Collection of Essays, Stories
- FREDDIE MAC: Fixed Mortgage Rates Increase on Soft Housing Data
- CIVIL WAR OP-ED: Saturday, April 26 is Confederate Memorial Day
- ANALYSIS: Huntington Pilot Plant Oak Ridge-DOE Documents May Provide New Hope for Workers Denied Cold Standby Compensation
- City to unveil new small business initiative during news conference
- More than 100,000 Had Symptoms During Elk River Water Spill
- PARALLEL UNIVERSE: Happy Birthday, Will Shakespeare; Words and Phrases You Created Will Live Forever
U.S: New Home Sales Dip 2.1 Percent in November from Strong October
“This figure is consistent with NAHB’s member surveys, which show increasing confidence in the market,” said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. “Meanwhile, the very low supply of new homes on the market and tight credit conditions for home buyers show that builders are still cautious about getting ahead of themselves.”
“The previous three months for new-home sales have all been revised up, and the final quarter of 2013 is shaping up to be the best quarter since the second quarter of 2008,” said NAHB Chief Economist David Crowe. “Historically low interest rates, affordable home prices and a healing economy are bringing buyers back into the marketplace.”
Regionally, new-home sales were mixed in November. Both the West and the Northeast showed improvement, with respective increases of 31.1 percent and 15.2 percent. New-home sales in the Midwest dropped by 26.6 percent and the South posted a 9.1 percent decline.
The inventory of new homes for sale declined to 167,000 units in November, which is a 4.3-month supply at the current sales pace.