New Home Sales on the Rise - ABC 33/40 - Birmingham News, Weather, Sports

New Home Sales on the Rise

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New home sales jumped in November to the highest level in more than two years. 
The U.S. government is reporting an increase last month rose 4.4% compared to October. It's the strongest pace of new home sales since April of 2010 

The increase is due to a combination of near-record low mortgage rates, lower unemployment numbers and a drop in foreclosures. That in turn has lifted home prices.  

The housing market is now showing numerous signs of recovery, including better existing home sales and home construction rates. 

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