125 trillion in mortgage backed securities: New Home Sales, Mortgage Rates, and the $1.25 Trillion Dollar Question
- 08/29/09 12:39 AM
According to the Census Bureau, new home sales jumped 9.6% from June to July to a seasonally adjusted annual rate of 433,000. This is the highest rate of home sales since August of 2008. However, new home sales are still down -13.4% from last July. The inventory of unsold new homes fell -3.2% from last month to 271,000 and is down -35.3% from last year. This is a massive improvement and as a result, the month's supply of housing fell to a 7.5 month supply. There are all positive indicators for the new home market. As new homes are built, jobs are created, … (2 comments)
According to the Census Bureau, new home sales jumped 9.6% from June to July to a seasonally adjusted annual rate of 433,000.
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