New home sales rose 25% in October, suggesting that a critical sector of the economy is continuing to gain strength as the end of the year approaches.


The question mark is when household formation will rebound, after an extended shortfall, Levenson said. The number of households has historically risen by about 1.5% a year, as young people graduate from school or college and leave their parents' homes, according to Census data. That rate fell by two-thirds during the recession.

Comments: Be the first to add a comment

add a comment | go to forum thread