Here Comes New Home Sales...
Dec 24, 2013, 20:05 IST
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Economists polled by Bloomberg are looking for new home sales to fall 0.9% month-over-month to an annualized pace of 440,000.
This compares with a 25.4% rise to 444,000 in October.
There were two main factors behind the surge in October new home sales. First, they were coming off a weaker base and second, the impact of rising mortgage rates ended up being worse than expected but was temporary.
Homebuilder confidence climbed to 58 in December and November housing starts climbed to the highest level since February 2008.
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But economists expect home prices to slow going forward.