Homes surged in April...

Sales of new homes surged in April as prices plunged,
from the Arizona Republic, reports that the Commerce Department reported
Thursday that sales of new single-family homes jumped by 16.2 percent in
April to a seasonally adjusted annual rate of 981,000 units. That was the
biggest one-month sales gain since a 16.4 percent surge in April 1993. Even
with the increase, however, sales are 10.6 percent below the level of a year
ago. The median price of a new home, the midway point between the costliest
and cheapest, fell to $229,100, a record 11.1 percent below the March level.
The price was 10.9 percent below the level of a year ago, the biggest
year-over-year price decline since '70. David Seiders, chief economist for
the National Association of Home Builders, said he was looking for sales of
new homes to fall by 18 percent for the whole year, matching last year's
decline.


http://www.azcentral.com/arizonarepublic/business/articles/0525biz-mktsector
0525.html