Pursuits
U.S. New-Home Sales Surge to Highest Level in Eight Years
U.S. Housing Looks Solid, Will It Continue?
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Purchases of new homes in the U.S. surged in April to the highest level since the start of 2008, pointing to a robust spring selling season for builders, Commerce Department figures showed Tuesday.
The rebound in purchases of new properties, combined with stronger demand for previously owned homes, signals housing is being energized by healthy employment gains and cheap borrowing costs. The jump in the number of homes sold and awaiting the first shovel in the ground indicates home construction will help add to economic growth in the second quarter.