AP / Wednesday December 27, 11:49 am ET By Martin Crutsinger, AP Economics Writer
Sales of New Homes Rise in November; Backlog of Unsold Homes Fall for Fourth Consecutive Month
WASHINGTON (AP) -- Sales of new homes rose in November while the backlog of unsold homes fell for a fourth straight month, providing hope that the serious slump in housing could be ending.
Sales of new single-family homes rose by 3.4 percent last month to a seasonally adjusted annual rate of 1.047 million units, reflecting solid sales increases in every region of the country except the South, the Commerce Department reported Wednesday.
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