Sales of new homes rise in April, reversing two months of declines
Tuesday, May 27, 2014 10:59 AM
Sales of new U.S. single-family homes rose more than expected in April and the stock of houses on the market hit a 3-1/2 year high, more indications that the sputtering housing recovery may pick up, Reuters reported. The U.S. Commerce Department said Friday that sales increased 6.4 percent to a seasonally adjusted annual rate of 433,000 units, ending two straight months of declines. Sales were down 4.2 percent from April 2013.