New Home Sales Level Off With Rates Near Record Lows

New home sales have leveled off now that mortgage interest rates stagnating at record lows. It would appear the massive stimulus from the Fed which began in March of this year has run its course. The big question is what comes next. The Census Bureau reported new residential home sales for October at a seasonally adjusted annual rate of 999,000 units. This was better than expected and previous months were revised upward as well. Compared to October of last year, new home sales rose 41 percent. Median and average prices of new homes sold (contracted) [...]