Stocks up (for now anyway) on good real estate news
Finally, a little good news from the housing market:
Washington Post: Stocks Gain on Surprise Rise in New Home Sales
Sales of new single-family homes rose by 2.7 percent last month to a seasonally adjusted annual rate of 464,000 homes. Economists had expected sales would drop from the August level.
New home sales are a leading indicator for the country’s economy. While one month does not make a trend, hopefully the August sales figures will be the start of one.
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