U.S. New Home Sales Rose 7.3% In April
(For April 2011)
U.S. new home sales rose 7.3% to 323.000 SAAR; Consensus was at 300.000 SAAR, prior reading (revised upward 1.000) was at 301.000 SAAR.
Month of supplies fell from revised 7.2 to 6.5 months. Backlog of unsold new homes is at 175.000.