At least the housing market is showing some very small signs of relief. That's what people gather from the latest figures on home sales. Sales of new homes recorded an unexpected increase in September as median home prices dropped to the lowest level in four years. The Commerce Department reported Monday that sales of new single-family homes rose 2.7 percent last month to a seasonally adjusted annual rate of 464,000 homes. Economists had expected sales would drop from the August level.
The median price of a new home sold in September declined 9.1 percent from a year ago to $218,400, the lowest price level since September 2004, a period when home prices were rising rapidly as the country experienced a five-year housing boom. The surprising increase in September sales still left them 33.1 percent below the level of a year ago as the country is battered by the worst housing slump in decades.
The report on a rise in new home sales followed news last week that sales of existing homes rose in September by 5.5 percent, the largest monthly gain in more than five years. With the economy hurting the way it is, people are increasingly using LeaseTrader.com to transfer their car lease over to someone else. Even if they have a car like a BMW, Mercedes or a Ford.
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