New home sales on the rise

The Commerce Department has good news for the housing market in southwestern Connecticut.According to the Commerce Department, sales of new homes are up 27 percent

NORWALK - The Commerce Department has good news for the housing market in southwestern Connecticut.

According to the Commerce Department, sales of new homes are up 27 percent from last month, the largest monthly increase in 47 years. Analysts are attributing the result to the good weather and a tax credit that ends in seven days.

The tax credit gives first-time qualified buyers $8,000 off their tax bill. Single buyers are allowed to make up to $125,000 and married couples filing jointly can make up to $225,000.

advertisement | advertise on News 12

Trending Video

A former corrections officer faces 45 years in 1 Former corrections officer found guilty in deadly 2014 car wreck
See extended video of state police making an 2 VIDEO: High speed chase ends in crash
VIDEO: Shoppers brave the cold for holiday deals 3 VIDEO: Shoppers brave the cold for holiday deals
Focus on Connecticut 12/9 4 Focus on Connecticut 12/9
VIDEO: Make-A-Wish fundraiser held for 10-year-old with cystic 5 VIDEO: Make-A-Wish fundraiser held for 10-year-old with Cystic Fibrosis

advertisement | advertise on News 12

Features

Focus on Connecticut Focus on Connecticut

Features local, state and federal officials discussing the issues around southwestern Connecticut.

Celebrates African-American culture in southwestern Connecticut. Our Lives

Celebrates African-American culture in southwestern Connecticut.

Each week News 12 Connecticut introduces you to Hometown Hero

News 12 highlights people who give to the community.

We spotlight a local team each week. Connecticut Team of the Week

Each week News 12 Connecticut highlights a team from a local school.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE