New home sales up slightly in April

WASHINGTON, May 27 (UPI) -- New single-family home sales in the United States increased 3.3 percent in April over March's revised figure of 509,000, the U.S. Commerce Department reported.

The increased sales still lag far behind figures from a year ago, falling 42 percent below the 907,000 one-family homes sold in April 2007.

The median sales price of a new home sold in April was $246,100 with an average price of $321,000.

The Commerce Department said 456,000 new homes were on the market in the United States at the end of the month -- a seasonally adjusted estimate. At current prices, it would take 10.6 months for the homes to sell, the report said.