Sales of new single-family homes rose 2.1 percent in April to May, the U.S.
Commerce Department said Tuesday.
At an annual rate of 476,000, sales for the month increased over April's revised annual rate of 466,000 and came in 29 percent higher than the May 2012 estimate of 369,000.
The Commerce Department said the average price for a new home sold in March was $307,800.
At the end of March, there were an estimated 161,000 new homes on the market, representing a 4.1 month supply at the current rate of sales. `
Most Popular Stories
- 'Fury' Blows 'Gone Girl' Out of the Box Office
- Alabama House Speaker Arrested on Felony Ethics Charges
- German Intelligence Blames Ukraine Rebels for MH17
- Turkey to Help Kurds Reach Fight in Kobani
- Clinton Rallies Early Vote for Landrieu
- Car Drivers Warned to Get Air Bags Fixed
- Prius Drivers Battle Stereotypes
- ISIS Seeks to Expand Terror War
- Cable TV Not Going Away, Says Cable TV
- Sub Hunt Brings Cold War Chill Back to Baltic