June 25, 2013
WASHINGTON ? Sales of new homes rose in May to the fastest pace in five years, a solid gain that added to signs of a steadily improving housing market.
New home sales rose 2.1 percent last month compared with April to a seasonally adjusted annual rate of 476,000, the highest level since July 2008, the Commerce Department reported Tuesday.
The median price of a new home sold in May was $263,900, up 3.3 percent from a year ago.
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