US New Home Sales Increase
Rising at a better rate than previously expected, new home sales in the US increased in April. Sales of new single-family homes rose 3.3% to 343,000-unit pace in comparison to the expected 335,000-unit pace in April. This increase recovers about half of the decline we saw in March and proves that the housing industry is gaining traction.
The level of new home sales is monitored closely as it is regarded as an indicator of economic momentum. In addition, the median price of new homes in April rose to $235,700.