New Home Sales Near Post-Recession High

Washington, DC, May 23, 2013 -- Sales of new homes rose in April to the second-highest level since the recession ended, according to the Commerce Department.

Sales were spurred by pent-up demand, low interest rates and low inventories of older homes.

New home sales reached a an annual rate of 454,000, up 2.3% from 444,000 in March.

The gain was also a 29% improvement April of 2012.

Median prices rose 15% year-on-year to $271,600, a record level.


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