Tuesday, June 3, 2008

Good News...to share!

Today one of our preferred mortgage lenders (Jeff Morgan/Countrywide Home Loans) sent me a good news update on what's happening around the world of real estate...so read on!

· Sales of new homes rose in April for the first time in six months

· The Commerce Department reported Tuesday that sales of new homes rose 3.3 percent in April to a seasonally adjusted annual rate of 526,000 units.

· The Commerce report showed that the median price of a new home sold in April rose to $246,100 in April, up 1.5 percent from April 2007.

· Sales were up 8.3 percent in the West and 5.8 percent in the Midwest.

· The inventory of unsold new homes edged down slightly to 10.6 months’ supply at the April sales pace, compared with 11.1 months in March.

By MARTIN CRUTSINGER, AP Economics Writer
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