According to CNN Money, July new home sales blasted by expectations and hit their highest level since last September.
The number of new construction home sales was up 9.6% from June's numbers. This statistic ws released following other posivitive real estate market reports which reported increases in existing home sales, home prices and affordability.
What factors are contributing to this spike? Many are linking it to low mortgage rates, price reductions on new construction, and the $8,000 first time home buyer tax credit along with consumer sentiment that this opportunity will not last forever.
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