There's great news out on the economy. New home sales suggest the housing market is in better shape than it has been in years. And the financial markets are also on the rise. Are we turning a corner?... See More
There's great news out on the economy. New home sales suggest the housing market is in better shape than it has been in years. And the financial markets are also on the rise. Are we turning a corner? Joining me now this morning is bianna golodryga. Sales of new homes and construction of new sales of existing homes, both are up. That's great news. Reporter: Great news. It looks like this recovery really has legs, elizabeth. Sales of existing homes are up 9.3% since august of last year. That's the best since may of 2010. That's the first time home buyers were rushing to get that tax credit. In addition to existing homes, new home sales are up, as well. They had their best month in two years, as well. What's behind all this? Reporter: Home prices are finally starting to rise. They're starting to stabilize. Over the last year, up 9.5%. The stress homes are fleeing the market. We're seeing fewer of those. And there's hiring news that's promising as we go into the holiday season. People normally hire more workers. It's looking good. Reporter: Seasonal hiring is up. Look at the numbers we heard from target and kohl's. 80,000 and 90,000 from target. 52,000 from kohl's. Is that enough to change things? Reporter: It's not. But retail had done well for the past few months. If it does do well goi into the holidays, these jobs may turn into permanent jobs.
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