Record for new home sales

[notiCIas]

Record for new home sales

April reading edges up from revised March mark to annual rate of 1.32 million.
May 25, 2005: 10:35 AM EDT

NEW YORK (CNN/Money) - New home sales edged up to a record annual pace in April, according to a government report Wednesday, as continued low mortgage interest rates produced the second sign of real estate market strength this week.

The Census Bureau reported new homes sold at an annual pace of 1,316,000 homes in April, up 0.2 percent from a revised 1,313,000 sales rate in March. The March sales pace was originally reported to be 1.43 million.

Economists surveyed by Briefing.com had forecast a 1.33 million sales pace in April.

   
The Census Bureau revised seasonally adjusted estimates for new home sales going back to January 2003, which caused the large adjustment in the March number.

But even the March revised figure would have been an record sales pace before the April result edged past it. Only April, March and October 2004 have topped the 1.3 million sales pace for new homes. No other month on record produced a sales pace above 1.26 million.

The report comes the day after a report on sales of previously owned homes in April also showed a record sales pace. The new home sales report, while representing a smaller segment of the real estate market, is considered a more important indicator.

The new home sales figures are based on data collected when sales agreements are reached. The existing home sales figures are based on sales that are closed. Since closings generally take place a month or two after a sale contract is reached, the new home sales is more of a current indicator on market strength.

Mortgage finance firm Freddie Mac put the average 30-year fixed-rate mortgage at 5.86 percent for April, down slightly from March. And the low rates haven't ended, despite steady increases in short-term interest rates by the Federal Reserve.

Freddie Mac's weekly survey showed the 30-year loan rate at 5.71 percent last week.

New home sales are also an important indicator for employment in the housing construction, and buyers of new homes typically buy more furnishings and appliances than those moving into previously-owned homes.

Sale prices for new homes also rose in the latest report, although not to record levels. The median price rose to $230,800 from $217,500 in March, but that was still short of February's $235,800 level. The median is the typical home sale at which half the new homes sold cost less and half cost more.

[New Felling]

Estou na expectativa...para saber quando rebentará esta BOLHA...

Abraço.

[CABO_Y]

E eu na expectativa para que esta bolha regresse a Portugal

E pode vir lá para o fim do ano Vinha MESMO a calhar

abraço,

CABO_Y