New Home Sales on the Rise

New home sales jumped in November to the highest level in more than two years.{}The U.S. government is reporting an increase last month rose 4.4% compared to October.{}It's the strongest pace of new home sales since April of 2010{}

The increase is due to a combination of near-record low mortgage rates, lower unemployment numbers and a drop in foreclosures.{}That in turn has lifted home prices. {}

The housing market is now showing numerous signs of recovery, including better existing home sales and home construction rates.{}