U.S. new home sales rise to seven-year high in May

The Commerce Department said on Tuesday sales rose 2.2 percent to a seasonally adjusted annual rate of 546,000 units, the highest level since February 2008. April's sales pace was revised up to 534,000 units from the previously reported 517,000 units. The new home sales report added to strong retail sales, consumer sentiment and employment data in suggesting the economy was gaining speed in the second quarter after output slumped at the start of the year.

U.S. new home sales rise to seven-year high in May source: http://finance.yahoo.com/news/u-home-sales-rise-seven-140423893.html