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U.S. new home sales rebound in April

Xinhua, May 27, 2015 Adjust font size:

Sales of U.S. new homes rebounded in April, a sign of rising demand which underscores the recent surge in housing starts and permits.

The sales of new single-family houses in April were at a seasonally adjusted annual rate of 517,000, 6.8 percent above the revised March rate, the Commerce Department said Tuesday.

The median sales price of new houses stood at 297,300 U.S. dollars in the month. The seasonally adjusted estimate of new houses for sale at the end of April was 205,000 units, which represented a supply of 4.8 months at the current sales rate.

New home sales, though accounting for only a small share of total sales in the housing market, still have an important impact on job creation and household consumption.

The beat-expectation data might help offset last week's disappointing weakness in existing home sales which account for a larger share of the market than new home sales. Total existing home sales declined 3.3 percent from the previous month to a seasonally adjusted annual rate of 5.04 million in April, said the National Association of Realtors. Endite