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WASHINGTON, D.C. -- Sales of new single-family homes
rebounded strongly in September for a 9.2 percent gain to a seasonally
adjusted rate of 946,000 units, the Commerce Department announced this
week. The gain more than offsets the 6 percent decline posted in
August. "September's strong rebound in new home sales is
largely a result of lower interest rates, which remained consistently
below 8 percent for the entire month," said Robert Mitchell,
president of the National Association of Home Builders. He said 2000 is
still on track to be the second best year for new home sales behind
1999. |
