New home sales rose 3.3 percent in April, according to the U.S. Commerce Department.
That’s an annual pace of 526,000, increasing from a pace of 509,000 the month before. The March rate was the lowest in 17 years.
Still new home sales declined 42 percent from April 2007, the biggest year over year decline since September 1981.
Looks like the roller coaster ride in housing will continue.
Published: May 27, 2008