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Economic News That You Likely Won't Hear About

Submitted by Kevin Boyd on Tue, 05/27/2008 - 16:10

Sales of new homes unexpectedly rose last month

Sales of new homes across the United States rose an unexpected 3.3 percent in April from the prior month, to a seasonally adjusted annual pace of 526,000 homes, a government report showed Tuesday.

The spike in sales confounded most economists forecasts of a sales decline last month.

Hopefully this is the beginning of the end of the housing crunch and will help the economy as a whole.

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Comments

Indeed it confused economists

Submitted by karasoth on Tue, 05/27/2008 - 16:17.

Who haven't experienced what I experienced at my local credit union. The credit union is trying to get anyone they can locked into a loan before the democrats come in and muck up the loan market worse

 

-what my moms loan officer told her-