US New Home Sales Jump To Highest Level In 5 Years - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

US New Home Sales Jump To Highest Level In 5 Years

Posted: Updated:

WASHINGTON (AP) - Americans snapped up new homes in June at the fastest pace in five years, a sign the housing recovery is strengthening.
    
The Commerce Department says sales rose 8.3 percent last month to a seasonally adjusted pace of 497,000. That's up from 459,000 in May, which was revised lower.
    
While sales are still below the 700,000 pace consistent with healthy markets, they have risen 38 percent in the past 12 months. That's the biggest annual gain since January 1992.
    
Housing has helped drive economic growth at a time when other parts of the economy have languished. While new-home sales make up only a small part of the market, each home built creates an average of three new jobs and spurs more spending at furniture and home supply stores.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • National NewsMore>>

  • UPDATE: Joan Rivers 'Resting Comfortably' at Mount Sinai in New York

    UPDATE: Joan Rivers 'Resting Comfortably' at Mount Sinai in New York

    Friday, August 29 2014 12:45 AM EDT2014-08-29 04:45:02 GMT
    NEW YORK (AP) - Comedian Joan Rivers is in a New York City hospital, according to police and hospital officials who say she was rushed there from a doctor's office after going into cardiac arrest.Rivers' daughter later issued a statement about her mother's condition.More >>
    NEW YORK (AP) - Comedian Joan Rivers is in a New York City hospital, according to police and hospital officials who say she was rushed there from a doctor's office after going into cardiac arrest.Rivers' daughter later issued a statement about her mother's condition.
    More >>
  • VA: No proof delays in veteran care caused hospital deaths

    VA: No proof delays in veteran care caused hospital deaths

    Tuesday, August 26 2014 9:11 PM EDT2014-08-27 01:11:37 GMT
    KHQ.COM- The Department of Veterans Affairs says there's no proof that delays in care caused any deaths at the VA hospital in Phoenix, Ariz.Revelations that as many as 40 veterans died while awaiting care rocked the agency this past spring, bringing to light scheduling problems and allegations of misconduct at other hospitals as well.NBC News obtained a draft report from the VA's Office of Inspector General Tuesday. The draft report says while investigators found substantial delays in care an...More >>
    KHQ.COM- The Department of Veterans Affairs says there's no proof that delays in care caused any deaths at the VA hospital in Phoenix, Ariz.Revelations that as many as 40 veterans died while awaiting care rocked the agency this past spring, bringing to light scheduling problems and allegations of misconduct at other hospitals as well.NBC News obtained a draft report from the VA's Office of Inspector General Tuesday. The draft report says while investigators found substantial delays in care an...More >>
  • UPDATE: Sergeant who shot herself at Fort Lee dies

    UPDATE: Sergeant who shot herself at Fort Lee dies

    Monday, August 25 2014 6:58 PM EDT2014-08-25 22:58:27 GMT
    Police officer patrols the entrance of Fort Lee in VirginiaPolice officer patrols the entrance of Fort Lee in Virginia
    FORT LEE, Va. (AP) - A commanding general at a Virginia Army base says an enraged soldier with a gun barricaded herself in an office, then shot herself in the head as officials tried to negotiate with her.More >>
    FORT LEE, Va. (AP) - A commanding general at a Virginia Army base says an enraged soldier with a gun barricaded herself in an office, then shot herself in the head as officials tried to negotiate with her. Maj. Gen. Stephen R. Lyons says the soldier went on a rampage, throwing objects. More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KHQ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.