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Statement from Under Secretary Blank on New Home Sales in April 2010

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FOR IMMEDIATE RELEASE

Wednesday, May 26, 2010

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement From Commerce Under Secretary Rebecca Blank on New Home Sales in April 2010

The Commerce Department’s U.S. Census Bureau today released new home sales data for April 2010.  Sales of new single-family houses rose 14.8 percent in April to 504,000 units, well above the expectations of 425,000 units and a 3.4 percent monthly increase.  New home sales have risen 47.8 percent above their level in April a year ago.

“The rise in new home sales is good news for this important sector of the economy,” said Commerce Department Under Secretary for Economic Affairs Rebecca Blank. “The growth in sales partially reflects the impact of the homebuyer tax credit.  But low mortgage rates, affordable prices, and strong job gains have also contributed to the firming of new home sales and should support sales in the coming months.”