New-Home Sales Rise to Highest Level in 2 Years

Tuesday, Jun. 26, 2012

Sales of newly completed single-family homes increased 7.6% between April and May, the Commerce Department reported. Last month's total was up 19.8% compared with May 2011. The seasonally adjusted annual sales rate was 369,000, the most since April 2010. The data suggest the housing market is no longer a drag on economic recovery.

Read Full Story