Keeping Track ...

Soaring sales

New home sales shot up 9.2 percent in April to a seasonally adjusted annual rate of 978,000 - the second-strongest monthly rate on record.

The jump came as consumers rushed to lock in low mortgage rates amid escalating home prices, the Commerce Department said.

The mean, or average, price for a new home rose to a record $193,100 in April from $186,300 in March.

Meanwhile, unemployment in the US dropped 0.1 percent last month to a rate of 4.2 percent. The May level, like that in March, was the lowest in the US since 1970.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK