Yahoo! News – New-Home Sales Surge to Record High: “National Association of Manufacturers President Jerry Jasinowski said he viewed the declines as a temporary pause. ‘New orders for durable goods have taken a quick breather after a year-long sprint,’ he said.
In a second report from the department, new-home sales surged by 14.8 percent last month to a seasonally adjusted annual rate of 1.37 million, an all-time monthly high. The showing, which was stronger than analysts expected, came after sales sagged by 7.9 percent in April.
An improved job climate is helping to offset a recent rise in mortgage rates, which still remain low by historical standards. Some economists predict new-home sales for all of 2004 will come in near record highs. “