U.S. April new home sales up slightly

U.S. new home sales rose 0.3% in April, the Commerce Department estimated Thursday. The increase in new-home sales to a seasonally adjusted annual rate of 352,000 was well below the 365,000 pace expected by economists surveyed by MarketWatch. New-home sales in March were revised to a 351,000 level compared with the previous estimate of 356,000. New-home sales are down 34% compared with a year ago. The months' supply of homes on the market fell slightly to 10.1 months in April from 10.6 months in March. Median sales prices have fallen 14.9% in the past year to $209,700.

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- Posted: 2009-05-28 10:02:28

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