Dead? CNNMoney.com Says New Home Sales May Be 'Back from the Dead'

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By Tom Blumer (Bio | Archive)
December 27, 2006 - 11:38 ET
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Ya gotta love the twisted headline from this CNNMoney.com report by Chris Isidore (bolds are mine):

New homes sales: Back from the dead?
New home sales rise more than expected and prices post gains despite continued rise in completed new homes on the market.
December 27 2006: 11:11 AM EST

NEW YORK (CNNMoney.com) -- New home sales and prices both showed surprising strength in November, according to a government report Wednesday.

New homes sold at an annual pace of 1.05 million, up from the revised annual rate of 1.01 million in October. Economists surveyed by Briefing.com had forecast that home sales would rebound to a 1.02 million pace.

..... The median average home price came in at $251,700 in November, up from the $248,500 level in October. The median price, is the point at which half the homes sell for more and half sell for less, had shown declines earlier in the fall due to a glut of homes available for sale on the market.

..... The median price is now back to the second-highest level on record, trailing only the $257,000 level reached in April of this year.

And while the pace of home sales is down 15.3 percent from the white-hot sales rate of a year ago, it's up nearly 7 percent from the trough hit in July of this year, when revised figures put the sales annual sales pace at just under a million.

Okay, it's only one month, and I'm not going to claim that a housing recovery is in full swing by any stretch.

But when were new home sales "dead"? If I'd have known, I would have sent flowers to the National Association of Homebuilders. I hope they'll excuse the oversight.

Cross-posted at BizzyBlog.com.

—Tom Blumer is president of a training and development company in Mason, Ohio, and is a contributing editor to NewsBusters


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only to msn employees who hav

December 27, 2006 - 14:33 ET by buddyc

only to msn employees who have no concept of reality is this a story.  the real estate market has been red hot for about 4 years.  recently it has cooled.  although there are spot markets that were over priced and some over building, yet all conditions that promote home sales remain.  there are low interest rates, demand remains strong, disposable income is up,  product is good, unemployment rates are down and general bus sales/income are up.   but to say that prior to the election would have been unthinkable to these retards.

it is only a surprise if you were LOOKING for signs to support your claims prior to the election that the economy was bad.  this is just another instance of the prejudice and incompetence of the msm.

Exactly.  Though generally t

December 27, 2006 - 19:29 ET by Unsane

Exactly.  Though generally the real estate market is good, there are some places where genuine overheating has occurred, and there are others that have gone soft due to overheating.  But that all depends on where you are, more or less.  

"Socialism is the philosophy of failure, the creed of ignorance and the gospel of envy."  -Sir Winston Churchill, British statesman (1874-1965)

The gloom, sadness, and down

December 27, 2006 - 17:39 ET by bigtimer

The gloom, sadness, and down-playing on CNBC earlier this afternoon when the Dow hit a new high and went over 12,500....bet the dem's/leftists try and change the history of this too....

"If we ever forget that we are a Nation Under God....then we will be a Nation Gone Under."  Ronald Reagan

How the Hufftards reacted to

December 28, 2006 - 14:22 ET by Roger the Shrubber

How the Hufftards reacted to the Dow hitting 12,500...

Rog...typical libtards...that

December 28, 2006 - 16:09 ET by bigtimer

Rog...typical libtards...that realredstate whatever is something else, and chronic looks vaguely familiar...love that electricgliderguy, heheheehe...still laughing!

Very entertaining indeed...these people really believe what they write...the dem's are really the one's that have the Dow over twelve-five...uh-huh!

Thanks for the fun!

"If we ever forget that we are a Nation Under God....then we will be a Nation Gone Under."  Ronald Reagan

CBS will be reporting that...

December 27, 2006 - 19:25 ET by Guy Arthur Thomas

No doubt CBS will be reporting polar bears being forced to purchase homes because Christians lead by President Bush are praying and making God melt some of the polar icecaps and this is the only reason for the higher numbers. God, Bush and Christians.

If you claim to be a conservative, please don't disgrace yourself and conservatism by thinking and arguing like a liberal.