Nashville 54th for real estate searches
U.S. existing-home sales dipped in April
Most expect housing recovery in two years, report says
U.S. housing starts plunge 24% in April
Database: Statistics on U.S. new-home sales since 1963
Sales of new houses rose to the highest level of the year in April, and prices were up from a year ago, according to data released Tuesday in Washington by the U.S. Commerce Department.
The report shows new home sales rose 7.3 percent from the previous month to an annual pace of 323,000. The median price rose 4.6 percent from April 2010 to $217,900.
Regionally, the biggest gain in month-over-month sales was in the West, where purchases jumped 15.1 percent in April. New home sales were up 4.3 percent in the South.
The new home market also tightened last month, with inventory falling to a 6.5 month supply, down from a 7.2 month supply in March.
April was not nearly as strong for existing homes in April, when sales dropped 12.9 percent, according to the National Association of Realtors.
In Nashville, existing-home sales plunged 18.5 percent in April, according to the Greater Nashville Association of Realtors. The median price for a home in Nashville stood at $159,070, down from $164,950 a year ago.
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