Pace Quickens for New Home Sales

RealtorMag reports the Commerce Department says new, single-family home sales rose to 7.6 percent in May, the best pace since April 2010, and up 20 percent year-over-year. New home prices are rising as well: Prices increased 5.6 percent over last year, and are now at a median price of $234,500. Regionally, new home sales spiked in the Northeast, increasing 36.7 percent, and rose 12.7 percent in the South. In the Midwest new home sales fell 10.6 percent in the Midwest, and 3.5 percent in the West.

(Photo credit: Reuters)

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