The presence of a tax credit for first-time buyers and slightly more confidence in the economy fueled a 6.2% in new home sales last month-5.1% above October 2008-the Departments of Commerce and Housing and Urban Development reported today.

October's sales were at a seasonally adjusted annual rate of 430,000, compared with 405,000 in September and 409,000 in October 2008.

It was the second consecutive piece of positive housing data. On Monday, the National Association of Realtors reported that existing home sales increased 10.1% in October.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.