The Census Bureau and the U.S. Department and Urban Development reports exciting news – stating that new residential sales jumped +16.6%, representing the strongest pace for new single-family home sales since January 2008.
Sales jumped to 619,000 and purchases in the first three months of the year were revised higher, according to the Commerce Department data.
Prices rose +5.7% in the first quarter from a year earlier. Seasonally adjusted from the previous three months, prices climbed +1.3% - according to the Federal Housing Finance Agency. Home prices have risen as job growth brings out more buyers in a market starved for choices, according to the FHFA.