U.S. new-home sales climb 2.1% in May

06/25/2013 | CNBC

U.S. sales of new single-family homes rose 2.1% in May to mark a nearly five-year high in volume. A sustained May sales pace would require 4.1 months to clear houses on the market, well under the six months that analysts say indicates a balance of supply and demand. Looking ahead, economists will be watching to see whether higher interest rates cut into sales.

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