New Home Sales Jump in June!

  Information released by Bloomberg.com this morning shows that new homes sales have risen 11% in the month of June.  This is the biggest jump in eight years! 

Falling prices and a drop in mortgage rates are getting buyers off the bench. “We are making some progress in absorbing this huge inventory overhang” and that “is a fundamental step we need to take to begin to see home prices improve,” said Robert Dye, a senior economist at PNC Financial Services Group in Pittsburgh.

Another positive sign for the housing market is the fact that some of the nation’s major building corporations have shown positive signs as their stocks jump.