Sales Of New Homes Rose 5.5 Percent In November

Sales of new homes bounced back a bit in November after falling to their second-lowest level in 47 years the month before.

The Census Bureau just reported that there were 290,000 new homes (that's an annual rate) sold last month, up 5.5 percent from October.

But as the Associated Press says, that's "not enough to signal better times are ahead for the battered housing industry."

Earlier, we reported on the relatively good news about consumer spending, orders for durable goods and first-time claims for jobless benefits.



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