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New-Home Sales Rise in November
(December 27, 2012) – Sales of new single-family homes increased 4.4 percent in November to a seasonally adjusted annual rate of 377,000 units, according to figures released by HUD and the U.S. Census Bureau. It was the highest monthly total since April 2010 when the federal home buyer tax credit expired. “New-home sales are gradually picking up momentum as the economy improves,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “Prospective home buyers who have been sitting on the fence for years are moving back into the market due to continuing low mortgage interest rates, attractive pricing and the improving economy,” he said. “This increase is consistent with NAHB’s member surveys, which show increasing...