House prices rise; sales rebound

mcall.com - House prices rise; sales rebound: "Average new home prices rose in September, and the number of new homes sold nationally rebounded after a huge decline in August.

A report from the U.S. Department of Commerce showed that new home sales climbed 2.1 percent last month to a seasonally adjusted annual rate of 1.22 million units. The average price of new homes in September was $285,700, up 12 percent from September 2004.

In the Lehigh Valley, the average price for a new four-bedroom home fell 3 percent in September to $383,000, compared with the same period a year ago, according to the Lehigh Valley Association of Realtors. This year, new construction in the Valley surpassed the $400,000 mark for the first time, and in three of the last five months prices for newly built homes have topped $400,000."
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