New Home Sales Increase along with Consumer Confidence
The economy may finally be recovering. A private research company, The Conference Board, recently cited falling gas prices and an improved job outlook as the primary factors leading to increased consumer confidence. In November, consumer confidence rose to 98.9, up from 85.2 in October.
The increase in consumer confidence also seems to be impacting the housing market. The Commerce Department reported that sales for new single-family homes shot up 13% in November, making it the biggest one-month gain in more than twelve years.
However, the jump in new home sales puzzled many analysts who were predicting a decline in new homes sales resulting from an increase in mortgage rates. It is possible that November’s surge is a result of buyers rushing to buy their home before the market rates climb even higher.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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