New home sales jump 14.8 percent in April

New homes sales surged last month as home buyers rushed to take advantage of a government tax credit that has helped lift the housing market, according to government data released Wednesday.

The sales of new single-family homes rose 14.8 percent in April compared with the previous month to a seasonally adjusted annual rate of 504,000, according to Commerce Department data. It was up 47.8 percent compared to the same period a year ago.

Sales rebounded the most in the Midwest, 31.6 percent. They rose 10.8 percent in the South, which includes the Washington region, and increased 21.7 percent in the West. Sales were flat in the Northeast.

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- Posted: 2010-05-26 10:44:20

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