Fred Harteis News Articles - Sales of new homes picked up last month after a big drop in October, while the backlog of unsold homes on the market became somewhat smaller, the Commerce Department reported today.
The news helped propel stocks on Wall Street to another all-time high, with the Dow Jones industrial average rising more than 100 points to finish the day above 12,500 for the first time. Shares of homebuilders like Pulte Homes, Toll Brothers and Lennar all rose considerably.
Still, sales are 15 percent lower ... more »
