New Home Sales Increase

New home sales jumped in April to the 2nd highest level since mid-2008. Meanwhile, the median price of  new homes hit a record high, rising 8.3% from March 2012 and averaged around $271,600. Additionally, according to the Commerce Department, new home sales increased 2.3% last month from March 2012 and averaged a seasonally adjusted annual rate of 454,000. More Americans are expected to buy new homes due to job creation and low mortgage rates. More here

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