Sales of New Single-Family Homes Jump 6.4 Percent in April

New-home sales spiked 6.4 percent last month compared to March, the Commerce Department has reported. At an annually adjusted rate of 433,000 single-family units, the number outpaced the expectations of economists, who had forecast the April sales pace to reach about 420,000 units. The gain offered additional evidence that the U.S. housing market is clawing back from a prolonged period of softness. Not only are sales numbers up for both new and existing homes, mortgage rates have stabilized; and the employment sector last month added the most new jobs in more than two years. These factors could encourage more prospective home buyers to take the plunge. | Read More