October Proves Strong For Housing Sales

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Sales of new one-family houses in October 2005 shot up 13% over September's rate, according to the U.S. Census Bureau and Department of Housing and Urban Development. In a joint report released today, they announced new home sales for October were at a seasonally adjusted annual rate of 1,424,000 versus the revised September rate of 1,260,000. October 2005 also outperformed October 2004 by a wide margin, jumping 9.0 percent."Even though we're in a traditionally slower season for housing, interest rates and higher consumer confidence in the economy are providing steady stimulus for the housing market. It looks like housing is going to have a strong finish in 2005 and 2006 is poised to be another solid, albeit more moderate, year for housing," says Quicken Loans Chief Economist Bob Walters. Quicken Loans is the nation's largest online lender and will close $17 billion in volume in calendar year 2005.  Mortgage News Home Current Headlines Next Article  Refinancing | Home Loans | Home Equity Loans | My Quicken Loans Login Mortgage News | Mortgage Rates | Mortgage Calculators | Apply Online Careers | Contact Us | Feedback | Site Map | Help | Search Security and Privacy | Disclosures and Licenses | Terms of Use © 2000 - 2005 Quicken Loans Inc., All rights reserved. Lending services provided by Quicken Loans Inc., a subsidiary of Rock Holdings Inc. “Quicken Loans” is a registered service mark of Intuit Inc., used under license. Build 2932 2005-11-29 16:25:15

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