WASHINGTON - New home sales increased 7.3% in April to a 323,000 unit seasonally adjusted annual rate from 301,000 last month, the Commerce Department reported Tuesday.
The median forecast of economists polled by Thomson Reuters was for 300,000 sales.
April sales were still down 23.1% from April 2010. The median sales price in April was $217,900, up 1.6% from the month before.
There were a record low 175,000 new homes for sale at the end of the month, a 6.5-month supply.
"The rates market has started to turn from the upper end of the trading range this week," Barclays strategists wrote, but with the war with Iran still driving the market, nothing is certain.
Changes in federal funding are sharpening the focus on how the states will be responding to disaster relief, running social programs and budget planning.
The defendants include many of the largest municipal bond underwriters.
The deal comes as high-yield muni investors are hungry for paper.
Nearly 21% of muni volume traded electronically in the first quarter, up from the previous quarter and surpassing the previous record set in the fourth quarter of 2023, according to a Coalition Greenwich report by Kevin McPartland and Neha Jain.
New research from The Bond Buyer finds the federal policy environment once again threatens the tax-exempt status for municipal bonds.
