Sales of new U.S. homes up in April

WASHINGTON - May 25, 2013 - The housing market continues to rebound, according to new data from the U.S. Department of Commerce.

Sales data for new single-family homes in the U.S. were up in April and with record high prices, the agency reported. Sales increased to a seasonally-adjusted 454,000 units, an increase of 2.3 percent from the revised March level of 444,000.

At the same time, the median sales price for new homes sold in April rose to $271,600, up 14.9 percent compared to the same period last year.

There was an estimated 156,000 new U.S. homes for sale at the end of April, which equates to an average time-to-sell of 4.1 months at the current sales rate.

The housing market has continued to show additional signs of recovery over the past year, with increasing home prices and an increase in new home construction starts.