Data released today from the National Association of Homebuilders showed the third straight month of improving sales in new construction. In October, 307,000 new homes sold across the US, while the number of homes available remained steady at 162,000. Total inventory is significantly down. In October 2010, there were 200,000 new homes available. At the current rate of absortion, the existing new homes would last 6.3 months, down from 8.5 months supply in October 2010.
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