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New Home Sales Report More Upbeat Than That For Existing Homes
By admin | November 29, 2007
As usual the two monthly reports on home sales - existing homes and newly constructed houses - were issued in lockstep on Wednesday and Thursday and while one was loudly proclaimed as an indicator that things were still getting worse, the second contained a germ of hope.
Lawrence Yun, NAR chief economists pointed out that when many of the sales that closed in October were being negotiated the mortgage problems arising out of the sub prime situation were peaking. "We continue to see the biggest impact in high-cost markets that rely on jumbo loans...
Topics: Mortgage News |
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