April new home sales highest monthly gain in 14 years
WASHINGTON (AP) – May 24, 2007 – Sales of new homes surged in April by the biggest amount in 14 years.
The Commerce Department reported that sales of new single-family homes jumped by 16.2 percent in April to a seasonally adjusted annual rate of 981,000 units. That was far better than the tiny 0.2 percent gain that economists had been expecting.
Investors were enthusiastic after the Commerce Department’s report. The Dow Jones industrials surged 74.68, or 0.55 percent, 13,604.80 soon after the housing numbers came out.
Areas in South Florida are firming and showing signs of strength. A few of these areas are Sunny Isles, Bal Harbour, Bay Harbour, Hallandale, and Aventura. Prices are firming and beginning to edge higher. After all, news media and sensationalistic TV would have you believe that the entire housing market has burst. This is why it is so important to analyze the parts and not the whole when looking at data in this type of market.
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Arnowitz & Associates, taking over the market, one property at a time....
visit us on the web www.ArnowitzProperties.com
Thursday, May 24, 2007
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