The Commerce Department said sales of new single-family homes rose 0.2% in April from the month earlier to a record annual rate of 1.32 million units. For April, sales of new homes were up 13.3% from a year earlier. The median price of a new home rose 3.8% to $230,800 from a year earlier. The price increases on new homes weren’t as eye-popping as gains reported Tuesday by the National Association of Realtors on prices for existing homes. The Realtors’ report showed median prices of existing homes were 15.1% higher than a year earlier. The Las Vegas real estate market continues to provide a steady supply of new homes and appreciation rates are generally above the national average.

This entry was posted by Michelle Sterling on Wednesday, May 25th, 2005 at 6:15 pm and is filed under Business & The Economy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.