New home sales rose 1.3% in November after dropping in October, according to the U.S. Census Bureau. New home sales are now running nearly 17% above the same time last year. That combines with other indicators of strength in housing heading into 2020: homebuilders are more optimistic than they’ve been in the past 20 years; housing permits and starts have hit multiyear highs in recent months; and interest rates on 30-year fixed-rate mortgages have fallen nearly 1% since late 2018.
Click the audio player above to hear the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.