Sales of existing and new homes soar in April, separate reports say, defying forecasts.
May 27, 2003: 10:17 AM EDT
NEW YORK (CNN/Money) - The U.S. housing market, long a pillar of strength in an otherwise shaky economy, flexed its muscles again in April, according to separate reports from the government and the nation's realtors Tuesday.
The National Association of Realtors (NAR) said existing homes sold at an annual rate of 5.84 million units in April, 5.6 percent higher than March's 5.53-million-unit pace. Economists, on average, expected a pace of 5.67 million units, according to a Reuters poll.
"Favorable conditions in April caused existing-home sales to rise to their fifth-best showing ever -- a pace that will be difficult to sustain, but demonstrates that the housing sector will be close to a record this year," NAR chief economist David Lereah said.
Separately, the Commerce Department said new homes sold at an annual rate of 1.028 million units in April, 1.7 percent higher than March's revised 1.011 million unit pace. Economists, on average, expected a pace of 986,000 units, according to Reuters.
U.S. stock prices bounced back following the news, while Treasury bond prices were mostly higher.
O Clubeinvest.com informa que nenhuma da informação
aqui facultada deverá ser entendida como conselho ou recomendação
de qualquer tipo de transacção ou investimento.
