Some Unexpectedly Good Economic News

Economy Foreclosure With a grim financial forecast and increase in homes sales came as a pleasant surprise this morning.
by The Associated Press
Published: Mon, October 27, 2008 - 9:00 am CST Last Updated: Mon, October 27, 2008 - 9:13 am CST
WASHINGTON (AP) - 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 by 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 by 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.
Email a Friend Email to a Friend   
Printer Friendly Printer Friendly
Translate: » Spanish | French | German | Italian | Japanese | Chinese | Russian | Hindi

Recently Commented On

Brewton Teacher Busted During…

18 Total Comments
Brewton Teacher Busted During Drug Sting Police say a Brewton Elementary School teacher was arrested… more »

Alabama Ethics Commission Found…

6 Total Comments
Alabama Ethics Commission Found Weak A national survey says Alabama is one of only three states… more »

Toddler Shot In Apparent Drive-by…

10 Total Comments
Toddler Shot In Apparent Drive-by Shooting Prichard police say a 1-year-old girl and her father were… more »

Customers Chase After Bank Robber

5 Total Comments
Customers Chase After Bank Robber Police say Sean Mitchell robbed the M & M Bank on Bienville… more »

Revenue Commission Missing 20k

4 Total Comments
Revenue Commission Missing 20k The News 5 Investigative team has confirmed that about 20,000… more »