US Dept of Commerce: New home sales up 11%

According to the US Dept of Commerce new home sales are up 11% month on month, which is obviously a positive for the housing market in particular and the economy in general. Of course, these stats have to be seen in the light of various other parameters. For example, YoY numbers still indicate a 21 % drop.

"Green shoots", "positive signs" whatever phrase one wants to use - the best way to really tell is if these types of numbers are sustainable.

For the entire article on Business Courier visit http://cincinnati.bizjournals.com/cincinnati/stories/2009/07/27/daily6.html?ed=2009-07-27&ana=e_du_pap