US Housing Sector Stabilizing? April New Home Sales Rise 3.3 ...

Sales of new single-family homes in the U.S. rose more than expected in April and prices climbed higher, a fresh sign of life in the distressed housing market.

The Commerce Department said Wednesday that new-home sales gained 3.3 percent last month to a seasonally adjusted annual rate of 343,000.

The results topped economists? expectation of a 335,000-unit rate of sales. Compared to April of last year, purchases of new homes were up 9.9 percent.

March?s figures on new-home sales were [continue reading in new window...]

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