Sales of new single-family houses in April 2012 were at a seasonally adjusted annual rate of 343,000, according to federal estimates released Wednesday, which put the pace 3.3% above March and 9.9 above the year before.
“Today’s report is representative of the kind of modest but consistent gains that we expect to see in new-home sales through the remainder of 2012,” said David Crowe, chief economist of the National Association of Home Builders.
He and NAHB Chairman Barry Rutenberg said the rate increase resulted from low interest rates on mortgages for those who can get them and from continued low home prices.
