NEW YORK (CNNMoney) -- The housing market got some good news on Monday, as the government reported that sales of new homes rose 7.6% in May.
Sales hit an annual rate of 369,000, according to the Census Bureau, compared with the revised April rate of 343,000. That's up 20% year-over-year, but still a long way from the annual rate of nearly 1.4 million recorded during real estate's boom years.
New home sales jump 7.6% in May - Jun. 25, 2012
Sales hit an annual rate of 369,000, according to the Census Bureau, compared with the revised April rate of 343,000. That's up 20% year-over-year, but still a long way from the annual rate of nearly 1.4 million recorded during real estate's boom years.
New home sales jump 7.6% in May - Jun. 25, 2012