New home sales rising New home sales rose by 3.3 percent in April
reaching a seasonally adjusted rate of 526,000 units, according to the U.S. Commerce Department. It was the first gain in six months, and the positive news sparked a boost in the stock market. The news helped to offset data previously released, showing housing priced during the first quarter of this year had their biggest decline in 20 years.
This development may indicate the start of a slow turnaround in the housing market.
It will be interesting to see how it will evolve over the next few months. The inventory of new homes on the market declined in April by 2.4 percent. It’s now down to a 10.6-month supply at the current sales rate. Completed homes accounted for 40 percent of total new homes for sale - up from 33 percent a year ago. Find your home at Http://www.CAMoves.com/Jennifer.Aguilarshamoo
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