US New Home Sales Up 2.3 percent in April

By: The Associated Press Email
By: The Associated Press Email

WASHINGTON Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering.

The Commerce Department says new-home sales rose to a seasonally adjusted annual rate of 454,000 in April, up 2.3 percent from March and just slightly below January's 458,000. Both January and April had the fastest sales rates since July 2008.

The median price of a home sold in April was $271,600, the highest level on government records going back to 1993. The April price was 8.3 percent higher than in March and 13.1 percent higher than a year ago.

Steady job creation and near-record-low mortgage rates are spurring more Americans to buy homes.

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