US new home sales: New post-recession high - Wells Fargo

According to analysts from Wells Fargo, today’s report on new home sales, that showed much better-than-expected number should rise expectation for the year ahead.

Key Quotes:

“On the heels of several disappointing months, new home sales bested expectations and rose 16.6 percent in April to a 619,000-unit annual rate, marking a new post-recession high.”

“The prior three months of data were also revised higher, pushing sales up 9.0 percent on a year-to-date basis.

“The stronger April report brings new home sales back in line with what most large homebuilders have been reporting and should raise expectations for the year ahead.”