April’s figure for new-home sales was up by 3.3 percent from March’s number, according to information released by the Commerce Department on Wednesday. That translates into a seasonally adjusted annual rate of 343,000. The entire country experienced this rise with the exception of the South.
Analysts are hopeful that this could signal that the US housing market is starting a recovery as the increase represents an annual rate of sales the second-highest in two years. Economists are quick to mention that although this is a positive sign, the increase is still only half the rate found in a healthy housing market.
"Housing could be a pleasant surprise this year," said Ellen Zentner, a senior economist at Nomura Securities.
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