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Sales of new single-family homes rose 7.3 percent in April. The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales Report shows new home sales were at a seasonally adjusted annual rate of 323,000. Economists had forecast a sales rate of 300,000. The median sales price of new homes sold in April was $217,900; the average price was $268,900. There were an estimated 175,000 new homes for sale at the end of the month, which represents a supply of 6.5 months at the current sales rate. More here.
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