Photographer: David Paul Morris/Bloomberg

U.S. New-Home Sales Surge to Highest Level Since 2008: Chart

Sales of new homes in the U.S. jumped in April to the highest level since the start of 2008, helped by healthy employment gains and cheap borrowing costs. Purchases rose 16.6 percent to a 619,000 annualized pace, and purchases in the first three months of the year were revised higher, according to Commerce Department data released on Tuesday. The rate exceeded the most optimistic forecast in a Bloomberg survey.

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