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New-Home Sales Rise 6.8 Percent in April

Sales of newly built, single-family homes rose 6.8 percent to a seasonally adjusted annual rate of 517,000 units in April, according to data released May 26 from HUD and the U.S. Census Bureau.

    

Regionally, home sales were mixed, rising 36.8 percent in the Midwest and 5.8 percent in the South. The Northeast posted a 5.6 percent decline and the West fell 2.3 percent.

    

The inventory of new homes for sale edged up to 205,000 units in April. This is a 4.8-month supply at the current sales pace.

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