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U.S. new home sales jumped in April

Xinhua, May 25, 2016 Adjust font size:

Sales of U.S. new homes jumped in April, reaching a more than eight-year high, a new signal that the U.S. economy is gaining momentum in the second quarter.

The sales of new single-family houses in April were at a seasonally adjusted annual rate of 619,000, 16.6 percent above the revised March rate, the Commerce Department said Tuesday.

The median sales price of new houses stood at 321,100 U.S. dollars in the month. The seasonally adjusted estimate of new houses for sale at the end of April was 243,000 units, which represented a supply of 4.7 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 U.S. industrial production in April surged 0.7 percent from March, the fastest pace since November 2014, a sign that the U.S. economy will bounce back in the second quarter, the Federal Reserve said last week. Enditem