New-Home Sales Increase 6.8 Percent in April

Sales of newly built, single-family homes grew 6.8 percent to a seasonally adjusted annual rate of 517,000 units in April, according to the U.S. Census Bureau.

Regionally, sales in the Midwest rose 36.8 percent and sales in the South increased 5.8 percent. The Northeast and West posted declines of 5.6 percent and 2.3 percent, respectively.

"Following an unusually low sales report in March, today's numbers are consistent with other data we've seen recently and indicate a continuing, gradual improvement in the housing market," said NAHB Chief Economist David Crowe in a statement.

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