National Home Sales Picking Up

Signs are looking more positive for the economy.  The Commerce Department reports that new home sales were up 11 percent for the month of June.  It is the third consecutive month of increased sales.  It was the fastest rate of growth in almost nine years as buyers used the tax credit and took advantage of the lower prices.  And sales of existing homes rose about 4 percent in June which was the third consecutive month showing an increase.

While the number of homes sales are up, keeping in mind that nationally the average sales price is down 17% from last year.