Wow New-Home Sales

I was just over at CNBC.com (one of my favorite news sites if you couldn’t tell) and they had a pretty interesting article up showing that new homes had a huge spike in sales, largest in 9 years. WOW. I was pretty shocked when I actually looked at the numbers, 11% is pretty incredible.

A lot of people in the know will be saying this is the sign of a turn around but I don’t think so. I still think we have a lot of foreclosures and a lot of homes that people are waiting to sell. In the end I think we have a year before prices turn around.

Check out the CNBC article here.