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New-home sales rise in April

Sales of new single-family houses in April 2011 rose 7.3%, according to the U.S. Commerce Department, to an adjusted annual rate of 323,000. This increase over March’s figure of 301,000 units is still below April of 2010, when the estimated number of home sales was 420,000.

The median sales price of new houses sold in April 2011 was $217,900. 

The nationwide inventory of new houses for sale at the end of April was 175,000 -- a new record low, according to the National Association of Home Builders (NAHB). This represents a supply of 6.5 months at the current sales rate, according to the federal government.

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