Market Conditions
New Home Sales Improve
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Sales of new homes rose in August by 4.1% after falling for the past 3 months.  It was welcome news after the housing industry has been beaten down over the past 6 months.

In Las Vegas, Home Builders Research reported that new homes sales were down 11.7% from one year ago, however new home prices have risen 11.2%.   These prices do not reflect the discounting and sales incentives given to buyers by the builders.

Mark Zandi, chief economist for Moody's Economy. com says that this rise is just a blip.  "Housing is still headed down" says Zandi.