US new home sales hit fastest pace in 5 years - FOX 26 News | MyFoxHouston

US new home sales hit fastest pace in 5 years

Posted: Updated:

WASHINGTON (AP) -- Sales of new homes rose in May to the fastest pace in five years, a solid gain that added to signs of a steadily improving housing market.

The Commerce Department says new home sales rose 2.1 percent last month compared with April to a seasonally adjusted annual rate of 476,000, the highest level since July 2008.

The median price of a new home sold in May was $263,900, up 3.3 percent from a year ago.

Sales of new homes remain below the 700,000 annual pace that's considered healthy by most economists. But the pace has increased 29 percent from a year ago.

Analysts say the housing recovery is looking more sustainable and should continue to boost economic growth this year, offsetting some drag from higher taxes and federal spending cuts.

AP-WF-06-25-13 1409GMT

  • Your MoneyMore>>

  • Facebook tries satire label

    Facebook tries satire label

    Tuesday, August 19 2014 10:32 PM EDT2014-08-20 02:32:56 GMT
    We've all fallen for at least one joke in our lives, probably some internet hoax meant to get a rise out of people. But now Facebook is trying to stop the spread of those fake jokes and stories. When you get the day's headlines from your social media news feed, it can be a challenge to figure out what might be made up or what might be the shocking truth.
    We've all fallen for at least one joke in our lives, probably some internet hoax meant to get a rise out of people. But now Facebook is trying to stop the spread of those fake jokes and stories. When you get the day's headlines from your social media news feed, it can be a challenge to figure out what might be made up or what might be the shocking truth.
  • Report: Facebook, Google want your kids

    Report: Facebook, Google want your kids

    Tuesday, August 19 2014 10:22 PM EDT2014-08-20 02:22:36 GMT
    Kids already spend plenty of time on computers and smart phones. Now Google reportedly wants to get youngsters set up with their own Gmail and YouTube accounts. Some parents told us they aren't thrilled with the idea. Currently, Internet companies such as Google and Facebook do not offer their services to children under 13, but many youngsters and their parents find a workaround.
    Kids already spend plenty of time on computers and smart phones. Now Google reportedly wants to get youngsters set up with their own Gmail and YouTube accounts. Some parents told us they aren't thrilled with the idea. Currently, Internet companies such as Google and Facebook do not offer their services to children under 13, but many youngsters and their parents find a workaround.
  • NJ weighs gambling outside Atlantic City

    NJ weighs gambling outside Atlantic City

    Tuesday, August 19 2014 3:32 PM EDT2014-08-19 19:32:06 GMT
    Momentum to shift some gambling away from Atlantic City increased Tuesday as a state senator introduced plans for a constitutional amendment that would put slot machines at New Jersey's four horse racing tracks, a business group increased its planning for an anticipated full-blown casino at the Meadowlands sports complex and the state gave final approval for the Showboat to shut down.
    Momentum to shift some gambling away from Atlantic City increased Tuesday as a state senator introduced plans for a constitutional amendment that would put slot machines at New Jersey's four horse racing tracks, a business group increased its planning for an anticipated full-blown casino at the Meadowlands sports complex and the state gave final approval for the Showboat to shut down.
Powered by WorldNow

KRIV FOX 26
4261 Southwest Freeway
Houston, TX 77027

Phone: (713) 479-2801
Fax: (713) 479-2859

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices