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 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 previous month.
There were a record low 175,000 new homes for sale at the end of the month, a 6.5-month supply.