More people were out buying new homes in the month of September, a recently released report confirms.
According to the Commerce Department, sales of newly built single-family properties rose nearly 6 percent in September when compared to the previous month to a seasonally adjusted annual rate of 313,000 units. The increase marks the fastest pace of sales since April.
David Crowe, chief economist for the National Association of Home Builders, said the report is in line with the NAHB's forecast for the number of properties that will be sold in 2011.
Also commenting on the September sales analysis was NAHB's chairman, Bob Nielsen.
"Today's report highlights the gradual improvement in housing market conditions that is becoming evident in certain pockets of the country, as consumers who can surmount very restrictive lending standards to qualify for a favorable mortgage rate seize on this opportunity to buy."
Some of the ways borrowers can improve their credit report, which lenders use to gauge borrowers' ability to pay off a mortgage, includes paying one's bills on time, keeping balances low on credit cards and reviewing reports for any errors or other kinds of unfair credit reporting.