April house sales exceed estimates, hit second highest number in five years
Thursday, May 23, 2013 3:40 PM
Sales of new U.S. houses climbed in April to the second-highest level in almost five years as lower borrowing costs and job gains drew more buyers into the market, Bloomberg reported. Purchases rose 2.3 percent to an annualized pace of 454,000 homes from a 444,000 pace in March that was faster than first estimated, according to a report today from the U.S. Commerce Department. The median estimate of 76 economists surveyed by Bloomberg called for a gain to 425,000. The data included revisions back to January 2011. The median selling price rose to a record on sales of more expensive properties. Read more.