New home sales rise 2.3 percent in April
New home sales rose 2.3 percent over March in April to a seasonally-adjusted rate of 454,000, the highest it’s been since the summer of 2008, our sister site, Equipment World, reported.
Though new home sales increased 29 percent year-over-year in April, economists consider 700,000 to be a healthy level. Economists originally predicted the new home sales rate in April to land at 425,000.
The median price of all homes sold in April was $271,600–8.3 percent higher than in March and 13.1 percent higher than in April 2012.
According to a report from the Wall Street Journal, home prices have risen 10.9 percent, the largest increase in seven years.
Despite such increases, home prices are still 28 percent below their 2006 high.
From our partners
Sandvik Construction’s extensive range of rock tools are world renowned for combining…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- Man hit by front-end loader dies in quarry accident1287 Views
- PHOTOS: Rare prehistoric mammoth found at sand and gravel pit1048 Views
- What should be done with this big pile of sand?696 Views
- Watch this: Dredging at Teichert's Hallwood Plant533 Views
- North America sand market to see big growth494 Views