The U.S. Commerce Department reported today that month over month sales of new homes rose 2.7% to 464,000 units in September. This was a huge development, considering most analysts had expected a drop from August. The decline on a year over year basis, however, was more significant as home sales were 33.1% below year ago levels. Perhaps bargain hunters are responsible for the monthly increase.The median home price dropped by 9.1% to $218,400, a level not seen since September 2004. There are BUYING opportunities out there folks! Contact you loocal REALTOR now!
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